Ignore reports that banks failed stress test, CBN tells Nigerians

The Central Bank of Nigeria has said that the Nigerian banking industry remains resilient and that key financial soundness indicators were within the regulatory thresholds as captured in the CBN’s most recent Economic Report of 2023.

It, therefore, appealed to Nigerians to disregard media reports listing some banks as failing the Capital Adequacy Ratio stress test for international authorisation.

The apex bank made this known in a statement signed by its spokesperson, Ali Sidi Ali, and posted on its website on Monday, December 11, 2023.

“We wish to clarify that the Nigerian banking industry remains resilient as key financial soundness indicators were within the regulatory thresholds as captured in the CBN’s most recent economic report of 2023,” the document stated.