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No Nigerian banks in distress - CBN

07 July 2016, 10:24

Lagos - The Central Bank of Nigeria, CBN, said yesterday that no bank in the country was under financial strain citing the recent restructuring of a new Board and management for Skye Bank was a proactive step to ensure the bank remained strong, Vanguard reports.

Also read: Nigeria's central bank agrees to flexible forex policy

CBN in a statement rebuffed the rumours that certain banks were distressed and strongly reiterated that these rumours do not reflect the actual health of individual banks as well as the banking industry.

"Neither Skye Bank nor any other bank in the industry is in distress. Therefore the CBN would like to request the general public to ignore speculations or rumours to the contrary as they could only be the handy work of mischief makers, who do not mean well for the Nigerian banking system and its economy," the statement read.

News24 Nigeria reported that the Central Bank Of Nigeria dissolved the board and management of Skye Bank with the apex bank partially taking over Skye bank.

For more on this story, visit Vanguard.

- News24 Nigeria


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