The Central Bank of Nigeria (CBN) has debunked insinuations being peddled by some news media of its plans to withdraw or revoke licences of three more banks after it revoked the licence of Heritage Bank Plc, describing the allegations as false.
The apex bank, in a statement issued on Tuesday by its Acting Director, Corporate Communications, Mrs. Hakama Sidi Ali, stated that its attention was drawn to some information circulating in the public domain, suggesting that the it is set to revoke the licences of three additional banks following its regulatory action against Heritage Bank Plc on Monday.
The Acting Director stated that the allegations were false and intended to trigger panic in the financial system, stressing that the Nigerian financial system remains safe, sound, and resilient.
According to her, the deposit money banks have started submitting implementation plans for the Banking Sector Recapitalisation Programme in compliance with the CBN circular, which reviewed the minimum capital requirements for Commercial, Merchant, and Non-Interest Banks (CMNIBs).
Ali further clarified: “These plans are currently being reviewed by the Bank. In addition to enhancing buffers to withstand economic shocks, this proactive measure by the CBN to require CMNIBs to recapitalize will result in increased capital for Nigeria’s banks, enabling them to provide much-needed credit to critical sectors of the economy.
“This will increase the financial system’s contribution to the growth and development of a $1 trillion Nigerian economy.
“The CBN would like to reassure all stakeholders of its unwavering commitment to ensuring the financial system’s stability. Our financial system remains on a solid footing, and the CBN will continue to take all necessary steps to maintain its safety and soundness”, the Acting Director added.
Some online media had in their news reports prior the apex bank’s statement alleged that it was planning to revoke the licences of Unity Bank, Polaris Bank, and Keystone Bank.
