CBN Governor, Olayemi Michael Cardoso
No Nigerian bank failed capital adequacy ratio stress test – CBN
Amid reports claiming that some deposit money banks (DMBs) operating in the country failed the Central Bank of Nigeria (CBN)’s Capital Adequacy Ratio (CAR) stress test for international authorisation, the regulator has dismissed such claims, as it stated that commercial banks remain resilient.
CBN, in a statement clarifying its position, Tuesday, affirmed that no Nigerian bank failed its CAR stress test, adding further that commercial banks operating in the country remain resilient.
Acting Director, Corporate Communications Department, CBN, Mrs. Sidi Ali, who gave this assurance in the statement, added that banks’ key financial soundness indicators were within the regulatory thresholds as captured in the CBN’s most recent Economic Report of 2023.
“The attention of the Central Bank of Nigeria, CBN, has been drawn to reports on some media outlets suggesting that some licensed commercial banks in the country had failed the CBN’s Capital Adequacy Ratio (CAR) for international authorisation.
“We wish to clarify that the Nigerian banking industry remains resilient as key financial soundness indicators were within the regulatory thresholds as captured in the CBN’s most recent Economic Report of 2023.
“Furthermore, the CBN is engaging with various critical stakeholders to sustain the level of confidence in the Nigerian financial sector.
“We, therefore, appeal to Nigerians to disregard the media reports listing banks as failing the Capital Adequacy Ratio, CAR, stress test for international authorisation as the report did not emanate from the Central Bank of Nigeria, CBN,” she added.
