CBN denies reports claiming some Nigerian banks are distressed

The Central Bank of Nigeria has denied reports that some commercial banks in Nigeria are distressed. Some news platforms last week alleged that some commercial banks failed the Capital Adequacy Ration CAR stress test for international authorization.

In a statement released today December 11, the apex bank said Nigerian banks remain resilient as key financial soundness indicators were within the regulatory thresholds as captured in the CBN’s most recent Economic report of 2023.

Read the statement below