CBN Reassures Public on Bank Safety Amid Takeover Rumors
The Central Bank of Nigeria (CBN) has affirmed the safety of deposits amid speculations of a government takeover of some CBN-supervised institutions. The Acting Director of Corporate Communications at CBN, Hakama Sidi-Ali, dispelled concerns and clarified that Nigerian banks are secure. The reassurance was prompted by unconfirmed reports, suggesting a government takeover of Titan Trust Bank (formerly Union Bank) and Keystone Bank. These reports allegedly stem from claims by CBN's special investigator, Jim Obazee, stating that the former CBN governor, Godwin Emefiele, used proxies to acquire these institutions. In response, Sidi-Ali emphasized that Nigerian banks remain safe and sound. She…
