“The CBN recognises the crucial role that confidence plays in banking operations and wants to affirm that all deposits in Nigerian banks are secure,” the statement read.
The statement noted that the bank’s continuous stress testing of financial institutions is aimed at maintaining the resilience of Nigeria’s banking sector.
According to the CBN, these stress tests are an integral part of its strategy to safeguard the financial system and protect depositors’ funds.
The tests help the apex bank detect and address emerging risks before they impact the stability of the sector.
“Regular stress testing is conducted to identify potential vulnerabilities, helping to ensure that our financial institutions are resilient,” the statement read.
Subscribe our newsletter to stay updated
Thank you for subscribing!
Subscribe our newsletter to stay updated
Thank you for subscribing!
