The Central Bank of Nigeria (CBN) has assured the banking public of the safety of their money in all the banks under its watch.

This came on the heels of some reports in the media space about unsound health of some financial institutions in the country which prompted the calls for their take-over by the Federal Government in order to protect depositors’ funds.

CBN in a statement signed Wednesday by the acting Director, Corporate Communications, Mrs Hakama Sidi-Ali, the apex bank dismissed the reports and expressed confidence in the Nigerian banking system, saying “no cause for concern your funds are safe in the banks.”

The Statement, entitled ‘CBN Assures Depositors Of The Safety Of Their Funds’ read in part: “The Central Bank of Nigeria (CBN) has noticed reports, in certain media outlets, about a recommendation for the Federal Government to take over some CBN supervised financial institutions.

“For the avoidance of doubt, Nigerian banks remain safe and sound. The CBN encourages the public to continue their regular activities without being alarmed by reports that have not emanated from the CBN about the health status of Nigerian banks.

The CBN encourages the public to continue their regular activities without being alarmed by reports that have not emanated from the CBN about the health status of Nigerian banks.