Naira Scarcity: CBN Speaks on Shutting Down Banks

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The Central Bank of Nigeria (CBN) on Saturday debunked rumours that it wants to shut down some deposit banks.

The CBN’s stance was contained in a statement signed by Osita Nwanisobi, the Director of Corporate Communications of the apex bank, which was sent to Newsmen.

The CBN’s statement partly reads: “There is a misleading voice note trending in social media alleging that the CBN planned to shut down some banks, particularly in a particular geo-political region of the country.

“We wish to state unequivocally that there is no such plan and that the claims are illogical and do not comply with the workings of the Nigerian banking system.

“The public is therefore advised to ignore such recordings as they do not represent the policy thrust of the CBN and are only the desperate attempts of persons bent on inciting the public against the Bank.”


A graduate of Mass Communication and Digital Multimedia Technologist, An experienced Web/Content Developer, He has served a reputable Media Organization and States in Nigeria with the use of modern technology gadget to disseminate information to the general public.

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