The Central Bank of Nigerian has reacted to news that was being spread on social media listing certain Nigerian banks the are allegedly experiencing difficulties.

Refuting the allegations on behalf of the CBN, it’s  Director of Corporate Communications Ibrahim Muazu said ‘His attention had been drawn to the an online publications listing the names of some commercial banks as being distressed.” He stressed in a statement issued yesterday that no bank is experiencing distress and that the online publication must be ignored. He described the report as baseless and false, and a figment of the authors imagination.=

Speaking on Channels TV investment analyst Robert Akintunde explained that since the banks are meeting current allocated capital adequacy any report of them experiencing distress is pure speculation.

The financial regulator assures the general public and customers that the Nigerian banking system is sound and that all banks are compliant with both deregulatory and prudential requirements.