New naira: No bank will be shut down – CIBN

The Chartered Institute of Bankers of Nigeria has reiterated the statement of the Central Bank of Nigeria reassuring Nigerians that the banking sector in the country remains very sound and safe.

CIBN disclosed the soundness of the banking industry has been reaffirmed severally by the Central Bank of Nigeria as the only body best suited to assess the strength of the financial industry in Nigeria.

“We equally like to allay the fears around the shortage of materials for printing the new naira notes, which the CBN has also discredited. This has also been debunked in a widely circulated press release by the Nigeria Security Printing and Minting Company, which described the story as false, baseless and misleading,” it said.

The President of the Council of CIBN, Ken Okpara said implored the Nigerians to disregard any contrary information as the entire banking community remains focused, committed, and working round the clock to address all the contending issues with a view to restoring normalcy.