In response to recent panic, the CBN reassures Nigerians that their bank deposits remain secure
The development comes after the CBN withdrew the licenses of certain banks, prompting concerns among customers.
On Monday, a fresh wave of panic swept through the nation as customers received warnings to immediately withdraw their deposits from specific banks.
In a statement released on Tuesday, Hakama Ali, the Acting Director of Corporate Communications at the CBN, reassured Nigerians of the safety of their deposits.
“The CBN actively ensures that banks adhere to established regulations and best practices to maintain the integrity of our financial system,” Ali stated.
He emphasized that the CBN conducts regular stress tests to identify potential vulnerabilities, ensuring the resilience of financial institutions.
Ali highlighted the implementation of Early Warning Systems by the CBN, designed to detect and address emerging risks proactively.
“This allows us to provide timely solutions to any foreseen issues,” he explained.
The CBN’s Risk-Based Supervision approach focuses regulatory efforts on institutions posing the highest risk to the financial system, maintaining robust oversight while promoting the overall health of the banking sector.
The CBN has also established Memoranda of Understanding with countries hosting Nigerian banks’ subsidiaries.
“This collaboration enhances regulatory coordination and ensures that our banks operate within a safe and sound framework in accordance with banking regulations, both domestically and internationally,” Ali noted.
Reaffirming the CBN’s commitment, Ali stated, “The CBN remains dedicated to fostering a secure banking environment where depositors can be fully confident in the safety of their funds. It will continue to monitor and adapt strategies to safeguard the financial interests of all Nigerians and stakeholders in our financial system.”
[10/8, 2:55 PM] Daniel: N10m Bribery Allegations: Falana Speaks Out Amid Death Threats
By Daniel Otera
Renowned human rights lawyer Femi Falana (SAN) reveals he’s receiving death threats over allegations of a N10 million presidential pardon controversy involving imprisoned crossdresser Idris ‘Bobrisky’ Okuneye.”
The senior advocate and his daughter have reportedly become targets of intimidation from social media supporters of Martin ‘VeryDarkMan’ Otse, who initially exposed the alleged scandal.
Speaking during a YouTube interview with Sahara Reporters on Monday, Falana revealed the extent of these threats.
“Some of these guys, who I believed were mentally derailed, have dared me that if I go to court, they will burn my office, and they’ve also sent messages to one of my daughters that if your father goes to court, we shall kill you,” he disclosed.
Displaying characteristic resilience, the 66-year-old lawyer remained undaunted.
“I laughed and told my daughter not to worry; I’ll take it up. I have already taken it up, and we must let these guys know where we’re coming from,” he stated firmly.
The Explainer reports that the controversy started in September when VeryDarkMan, a social media influencer, released a leaked phone call involving Bobrisky.
In the contentious audio, Bobrisky claimed that Falana and his son, popular musician Falz, had approached him while in Kirikiri Correctional Centre, offering to secure a presidential pardon for N10 million.
Both Falana and his son have vehemently denied these allegations. While Falz acknowledged that Bobrisky had reached out requesting N3 million in financial assistance, he maintained that no such offer was made.
Drawing from his extensive legal career, Falana emphasized his track record of pro bono work in pardon cases.
“In the last 42 years of my legal practice, I have never collected a kobo to write a letter of pardon for anybody,” he asserted.
He then detailed a successful 2022 case where he secured pardons for six Nigerians who had been wrongfully detained at Kirikiri.
Speaking about his son’s integrity, Falana painted a picture of Falz as fiercely independent.
“The guy doesn’t want anybody to know he’s my son,” he revealed, recounting how Falz deliberately chose his stage name to avoid riding on his father’s reputation. “He said he didn’t want anybody’s name to open doors for him but wanted his own doors.”
The allegations have sparked significant institutional response, leading to suspensions within the Nigerian Correctional Service (NCoS), EFCC investigations, and a House of Representatives probe.
Meanwhile, Falana remains resolute in the face of threats, drawing on his experience: “I have fought against some more dangerous military regimes in Africa, and the fact that I’m alive today.”