The Chartered Institute of Bankers of Nigeria (CIBN) asserts that the country’s banking sector is robust, devoted, and focused on resolving all vying sector challenges, particularly the scarcity of naira.
Dr. Ken Opara, President of CIBN, stated in a statement on Monday that the industry was dedicated to bringing the system back to normal.
Opara was responding to rumors that the Central Bank of Nigeria, CBN, planned to close several deposit money institutions.
He asserts that the CBN, the only agency qualified to evaluate the financial industry’s health, has repeatedly reaffirmed the soundness of the banking sector.
“We equally like to allay the fears around the shortage of materials for printing the new naira notes, which the CBN has also discredited. This has also been debunked by the Nigeria Security Printing and Minting (NSPM) Company, which described the story as false, baseless and misleading.
“NSPM has assured that it has made adequate arrangements to produce redesigned naira notes as well as other denominations continuously,” he stated.
Opara added: “We implore the public to disregard any contrary information as the banking community remains focused and committed.
“The industry is working round the clock to address all contending issues to restore normalcy. We indeed appreciate your continued patience and understanding as we work together toward building the Nigeria of our dream.’