CIBN Backs CBN on Banking Reforms
The Chartered Institute of Bankers of Nigeria (CIBN) has hailed the Central Bank of Nigeria (CBN) for the recent reform in some banks.
The apex bank on Jan. 10, dissolved the boards and management of Union, Polaris, Keystone and Titan Trust banks due to their non-compliance with the Banks and Other Financial Institutions Act, 2020.
The CIBN in a statement by Mr Akin Morakinyo, the Chief Executive of the Institute, on Thursday, reassured the public of the safety and soundness of the banking system. Naira Rises by 19% as Forex Market Pressures Ease
Morakinyo encouraged the banking public to continue their transactions and activities without hesitation.
”CIBN will like to reassure the general public that the Nigerian banks remain strong and resilient and that the CBN is committed to ensuring a stable financial system,” he said.
Morakinyo said the institute would continue to support laudable initiatives of the CBN and other stakeholders for a virile economy. The CBN appointed new management team for the three banks it earlier dissolved.
