Nigeria’s Central Bank affirms support for on-going investigations of banking transactions

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Monday, May 09, 2016 7.52PM / CBN Release 

The Central Bank of Nigeria (CBN) wishes to inform all customers of Deposit Money Banks, other stakeholders, and the general public that it is fully aware and indeed a part of the on-going investigations of certain financial transactions in some banks by law enforcement authorities.  

The CBN is also carrying out its own special examinations and investigations to ascertain the veracity of some allegations, as well as the extent and persons that may be involved in such activities.  

The Bank would like to reiterate that financial system stability remains a priority and therefore assures customers and stakeholders that it would not allow the Banking System to be used as a conduit for any illicit transactions.  

Some of these investigations are routine and only relate to isolated transactions, therefore it is important to state that the safety and soundness of the Nigerian banking industry remain strong

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