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CIBN Declares That No Nigerian Bank Will Be Shut Down Amidst New Naira Note Crisis

Somto NwanoluebySomto Nwanolue
February 13, 2023
in News
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CIBN Declares That No Nigerian Bank Will Be Shut Down Amidst New Naira Note Crisis
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The Chartered Institute of Bankers of Nigeria, CIBN has reiterated the CBN’s statement, where Nigerians were reassured that the banking sector in the country was still very sound and safe.

According to CIBN, the soundness of the banking industry has been continuously reaffirmed by the CBN as the only body best suited to assess the strength of the finance industry in Nigeria.

CIBN had said: “We would also like to allay the fears surrounding the shortage of materials for printing the new naira notes, which the CBN has come out to discredit. This fake news has been debunked in a widely circulated press release by the Nigeria Security Printing and Minting Company, NSPMC, which has since tagged the story as false, baseless, and misleading.”

The Institute had then gone on to implore Nigerians to disregard any contrary information as to the apex bank’s reassurance.

Tags: Chartered Institude of Bankers of Nigeria - CIBNNaira Redesignnew naira note crisisreiterates no nigerian bank to be shut down
Somto Nwanolue

Somto Nwanolue

Somto Nwanolue is a news writer with a keen eye for spotting trending news and crafting engaging stories. Her interests includes beauty, lifestyle and fashion. Her life’s passion is to bring information to the right audience in written medium

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