The Central Bank of Nigeria (CBN) says the country’s banking sector remains resilient and safe.

In a statement on Monday, Hakama Sidi-Ali, acting director of corporate communications at the CBN, dismissed recent media and online reports suggesting instability in the operations of “a regulated financial institution”.

The apex bank described the reports as misleading and urged the public to disregard unverified claims.

“The CBN wishes to categorically reassure the public, depositors, and stakeholders that the Nigerian banking sector remains resilient, safe, and sound,” the statement reads.

“Like all other regulated institutions, the institution referenced in these reports is held to stringent regulatory requirements, and there is no cause for concern regarding the safety of depositors’ funds.”

The regulator said strong supervisory mechanisms are in place to safeguard the financial system, including frameworks for early warning signals and risk-based supervision.

The bank said the tools would help identify and address potential issues before they escalate.

It also cautioned against the spread of sensational information, encouraging Nigerians to rely only on official sources for updates on the banking sector.

“We urge the public to disregard sensational or unverified claims and rely solely on official channels for information about the financial system,” CBN added.

The CBN reaffirmed its commitment to maintaining a secure and stable financial environment, pledging to continue evolving its regulatory strategies to protect depositors and the wider financial ecosystem.

“The CBN remains dedicated to fostering a secure banking environment where depositors can be fully confident in the safety of their funds,” the bank said.

The apex bank also promised to continue to monitor and adapt strategies to safeguard the financial interests of all Nigerians and stakeholders in the financial system.