CBN head office in Abuja

The Central Bank of Nigeria, CBN has affirmed that contrary to ongoing rumours, the Nigerian banking industry remains very healthy with none of the player in the sector distressed.

The apex bank said this in a statement issued on Wednesday in reaction to rumours and speculations that some of banks in  the country may have gone or may be going into   distress following its takeover of management of Skye Bank over liquidity issues on Monday.

“The   CBN   wishes   to   reiterate   in   the   strongest terms that these rumours and speculations are untrue and do not   reflect   the   actual   health   of   the   individual   banks and, indeed, the entire banking industry,” Isaac Okoroafor, Acting Director, Corporate Communications said in a statement on behalf of the CBN.

The  apex bank further assured that the infusion of a new Board and Management for Skye Bank PLC is a proactive regulatory action meant to ensure that the bank does not continue to fail in its relevant prudential ratios.

CBN said neither   Skye   Bank nor any   other bank in the industry is  in distress while assuring the banking and general public that their deposits remain safe in any   Nigerian   bank.

“There   is,   therefore,   no   need   for   panic withdrawals from any bank. Going   by   both   the   CBN’s   Examination   Reports   as   well   as analysis   from   market   watchers,   International   Credit   Rating Agencies, and Development Finance Institutions, the Nigerian banking industry remains strong in spite of the global economic challenges emanating from the collapse of global commodity prices.

“We therefore urge the banking public to remain calm and   go   about   their   normal   businesses   without   panic.   It is important that we do not create problems when none exists,” CBN said in the statement.