CBN disowns reports suggesting that some banks failed stress test
The Central Bank of Nigeria (CBN) has reacted to reports suggesting that some licensed commercial banks in the country had failed the CBN’s Capital Adequacy Ratio (CAR) for international authorisation, saying the banking industry remained resilient.
The CBN in a statement signed by Mrs Sidi Ali, Hakama, Ag. Director, Corporate Communications, the banks key financial soundness indicators were within the regulatory thresholds as captured in the CBN’s most recent Economic Report of 2023.
“Furthermore, the CBN is engaging with various critical stakeholders to sustain the level of confidence in the Nigerian financial sector,” the statement said.
The apex bank therefore appealed to Nigerians to disregard the media reports listing banks as failing the CAR stress test for international authorisation as the report did not emanate from it.
