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Tuesday, 8 October 2024

CBN Refutes False Allegations Against GTCO, Reassures Public of Banking System’s Stability

 


 

The Central Bank of Nigeria (CBN) has dismissed false claims against Guaranty Trust Holding Company (GTCO) and its executive management, reaffirming its role as Nigeria’s apex banking authority.

 

 

In a statement, CBN’s Acting Director of Corporate Communications, Mrs. Hakama Sidi Ali, said, “The Central Bank of Nigeria wishes to reassure the public of its unwavering dedication to ensuring the stability and reliability of the Nigerian financial system.”

 

 

The CBN emphasized, “We recognize the critical role that public confidence plays in banking operations, and we affirm that all deposits in Nigerian banks are secure.”

 

 

The statement highlighted CBN’s regulatory efforts, including stress tests, Early Warning Systems, and international collaborations to ensure Nigerian banks operate within safe frameworks domestically and abroad.


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