THE Central Bank of Nigeria (CBN) has assured that it had no plan to revoke the licences of more Deposit Money Banks (DMBs), following its withdrawal of the operating licence of Heritage Bank on Monday, June 3.
The Acting Director, Corporate Communications of the apex bank, Mrs. Hakama Sidi-Ali, stated this in a statement on Tuesday, June 4, in Abuja, in response to rumours in some quarters that the apex bank also plans to revoke the licences of Unity, Keystone and Polaris Banks.
Sidi-Ali said: “The attention of the CBN has been drawn to some information circulating in the public domain, suggesting that the CBN is set to revoke the licenses of three additional banks, following its regulatory action against Heritage Bank Plc on Monday.
“The CBN unequivocally states that these allegations are false and intended to trigger panic in the financial system. The Nigerian financial system remains safe, sound, and resilient.
“Our banks have begun submitting implementation plans for the Banking Sector Recapitalisation Programme in compliance with the Circular reviewing the minimum capital requirements for Commercial, Merchant and Non-Interest Banks (CMNIBs).”
She said the plans were currently being reviewed by the apex bank, noting that in addition to enhancing buffers to withstand economic shocks, the proactive measure by the CBN to require CMNIBs to recapitalise will result in increased capital for Nigeria’s bank to enable them to provide much-needed credit to critical sectors of the economy.
“This will increase the financial system’s contribution to the growth and development of a one-trillion dollars Nigerian economy.
“The CBN will like to reassure all stakeholders of its unwavering commitment to ensuring the financial system’s stability.
“Our financial system remains on a solid footing, and the CBN will continue to take all necessary steps to maintain its safety and soundness,” the director said.
