By Nik Ogbulie.
In its efforts to continue to emphasize that the Nigerian banking sector remains resilient, safe and sound, the Central Bank of Nigeria (CBN), has assured stakeholders in the financial system that it will continue to maintain robust framework for early warnings. This is believed to be enough assurance to customers who may have been sandwitched by poor information peddlers who may be feeding the system with damaging news.
The apex bank dropped this hint early in the week as indications that banking sector instability may be triggered by some transactional crisis which emerged in a regulated financial institution under CBN watch. The development which has been considered as inconsequential for any seeming danger is believed to have been strictly under the control of the apex bank and has remained largely ineffective to meddle with the current level of stability in the banking industry.
In a reaction to “misleading information regarding the operation of a bank regulated financial institution”, Hakama Sidi Ali, Acting Director, Corporate Communications, CBN, urged the public to disregard sensational or unverified claims and rely solely on official channels for information about the financial system.
There are strong indications that the apex bank has put up very strong regulatory measures to mitigate any level of crisis in the financial sector., especially now the industry has assumed a new role in the capitalisation state of the Nigerian Exchange which has become the major focus of investors and the entire economy.
Indications are rife that the CBN has the special privilege of any dangerous development in any bank in form of an alert , not to Nigerians or fake news harbingers. The bank has invested clinically in sophisticated technology, skills and human capital to be able to work beyond the capabilities of rumour mongers.
According to Ali, the Nigerian banking sector remains resilient, safe and sound.
