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The Central Bank of Nigeria, CBN has confirmed that there are no intentions to revoke the licenses of Fidelity, Wema, Polaris, and Unity Banks.

Mrs Hakama Sidi Ali, the acting Director of the Corporate Communications Department, clarified this in a statement on Monday.

Contrary to earlier reports, which suggested that the apex bank had dissolved the boards of the three banks and revoked the license of Heritage Bank, the spokesperson confirmed that this claim is untrue.

The CBN reassured the public that their deposits are safe and that the banking system remains resilient.

“Without prejudice to the ongoing recapitalization process, I want to restate that the Nigerian banking industry remains resilient.

“Key financial soundness indicators remain within current regulatory thresholds.

“Customers are, therefore, encouraged to proceed with their transactions as usual, as the CBN is committed to ensuring the safety of the banking system,” she stated.

“Without prejudice to the ongoing recapitalization process, I want to restate that the Nigerian banking industry remains resilient.

“Key financial soundness indicators remain within current regulatory thresholds.

“Customers are, therefore, encouraged to proceed with their transactions as usual, as the CBN is committed to ensuring the safety of the banking system,” she stated.

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