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License Revocation: CBN Finally Speak On Fidelity, Wema, Polaris, Unity Banks

Posted on June 11, 2024June 11, 2024 By Rextun boss No Comments on License Revocation: CBN Finally Speak On Fidelity, Wema, Polaris, Unity Banks

The Central Bank of Nigeria has said there is no plan to revoke the licenses of Fidelity, Wema, Polaris and Unity Banks.

The acting Director of the Corporate Communications Department, Mrs Hakama Sidi Ali, on Monday, made this clarification in a statement.

Recall that a circular made the round on Monday suggesting that the apex bank has dissolved the boards of the three banks barely after revoking the license of Heritage Bank.

However, the apex bank spokesperson described the claim as false.

CBN reassured members of the banking public of the safety of their deposits and the banking system’s resilience.

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“Without prejudice to the ongoing recapitalization process, I want to restate that the Nigerian banking industry remains resilient.

“Key financial soundness indicators remain within current regulatory thresholds.

“Customers are, therefore, encouraged to proceed with their transactions as usual, as the CBN is committed to ensuring the safety of the banking system,” she stated.

Finance and Economy Tags:CBN, Fidelity bank, License Revocation, Polaris bank, Unity bank, Wema bank

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