The Central Bank of Nigeria clarified yesterday that there are no intentions to withdraw the operating licenses of Fidelity Bank, Wema Bank, Polaris Bank, and Unity Bank.
Mrs. Hakama Sidi Ali, Acting Director of Corporate Communications at CBN, addressed this in a statement, affirming that rumors of license revocation were unfounded.
She also highlighted that a circular issued on January 10, 2024, regarding the dissolution of Union, Keystone, and Polaris Banks’ boards was being misrepresented as a recent development, orchestrated by unscrupulous individuals to create unwarranted panic.
Sidi Ali assured the banking public of the safety of their deposits, emphasizing the resilience of the banking system.
She clarified that the dissolution of Heritage Bank was an isolated case and dismissed claims of further license revocations before completing the bank recapitalization exercise as baseless fabrications.
Sidi Ali urged the public to continue their banking activities without concerns, reaffirming CBN’s commitment to the stability of Nigeria’s financial system and the safety of depositors’ funds across all financial institutions.
