Central Bank of Nigeria (CBN) has refuted reports claiming that some licensed commercial banks in the country failed the Capital Adequacy Ratio (CAR) for international authorization.
Gatekeepers News reports that the apex bank disclosed this in a statement issued on Monday, signed by Ag. Director, Corporate Communications, Mrs Sidi Ali, Hakama.
The CBN emphasised that the Nigerian banking industry remains resilient, with key financial soundness indicators within regulatory thresholds, as indicated in the CBN’s most recent Economic Report of 2023.
The statement partly read: “The attention of the Central Bank of Nigeria (CBN) has been drawn to reports in some media outlets suggesting that some licensed commercial banks in the country had failed the CBN’s Capital Adequacy Ratio (CAR) for international authorisation.
“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.”
“We, therefore, appeal to Nigerians to disregard the media reports listing banks as failing the Capital Adequacy Ratio (CAR) stress test for international authorisation as the report did not emanate from the Central Bank of Nigeria (CBN).”
