The Central Bank of Nigeria has emphasised its commitment to the stability of the country’s financial system, highlighting that regular stress tests are conducted to identify potential vulnerabilities in banks.
This is according to a press release by CBN’s Acting Director of Corporate Communications, Mrs Hakama Sidi Ali, on Tuesday.
The statement reads “The CBN recognises the crucial role that confidence plays in banking operations and wants to affirm that all deposits in Nigerian banks are secure”.
The statement noted that the bank’s continuous stress testing of financial institutions is aimed at maintaining the resilience of Nigeria’s banking sector
