The Central Bank of Nigeria has in a press release, assured depositors and Nigerians of the safety of their funds as well as the solidity of commercial banks in the country. This public reassurance by the apex banks comes after a 20th December 2023 report by the CBN's special investigator, Jim Obazee, stated that the embattled former governor of the apex Bank, Godwin Emefiele, used proxies, to set up two financial institutions. The claim fuelled speculations that the CBN may take over Titan Trust Bank (former Union Bank) and Keystone Bank.
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In the press release issued by acting Director, Corporate Communications, Hakama Sidi-Ali, on Wednesday 27th December, The Central Bank urged the public to continue their regular banking and transaction activities, as there's no cause for alarm. The Central Bank reiterated its commitment and preparedness to keep carrying out its statutory of upholding a stable financial system in the country.
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