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Your bank deposits are safe, CBN reassures Nigerians
The Central Bank of Nigeria (CBN) has again reassured the banking public of the safety of their deposits and the banking system’s resilience.
The apex bank’s Acting Director of Corporate Communications Department, Mrs Hakama Sidi-Ali, gave the assurance in a statement on Monday in Abuja.
Sidi-Ali’s statement was a response to concern in some quarters about the stability of some Nigerian banks in the wake of Heritage Bank Plc’s license revocation,
She faulted claims that the CBN was considering revoking the operating licences of Fidelity, Polaris, Wema, and Unity Banks.
She also clarified that a circular issued by the Bank on January 10, 2024, notifying the public about the dissolution of the Boards of Union, Keystone, and Polaris Banks, was currently being circulated as though it was freshly issued.
According to the director, Heritage Bank’s case was isolated
“Allegations of further revocation of licences prior to the completion of CBN’s recapitalisation exercise are mere fabrications aimed at creating panic within the system,” she said.
She said that bank customers, particularly those of Heritage Bank, needed not worry about the safety of their deposits, adding that the Nigeria Deposit Insurance Corporation (NDIC) had commenced payment to the bank’s insured depositors.
She urged members of the public to continue their regular banking activities without fear, dismissing any false reports regarding the health of specific Deposit Money Banks.
“The CBN, with its robust regulatory framework, is proactively ensuring the stability of Nigeria’s financial system, thereby guaranteeing the safety of depositors’ funds in all Nigerian financial institutions,” she said.
Sidi-Ali reiterated the assurances of the CBN Governor, Olayemi Cardoso, that the recapitalisation of banks in Nigeria was intended to bolster the banking system and safeguard the sector against risks.
She urged all stakeholders to cooperate in ensuring the success of the process, which she said would be for the overall growth of the Nigerian economy.
“Without prejudice to the ongoing recapitalisation 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 said.(NAN
The Federal Government has announced that discussions are underway regarding the safe and dignified return of 15,000 Nigerians stranded in Cameroon, Niger, Chad, and other parts of the world.
Alhaji Tijani Ahmed, the Federal Commissioner of the National Commission for Refugees, Migrants and Internally Displaced Persons (NCFRMI), made this statement during a media briefing on Friday in Abuja.
Ahmed highlighted that there are currently no fewer than six million displaced individuals within Nigeria, while thousands of refugees reside in various countries around the globe.
“We have 15,000 Nigerians wishing to return to the country voluntarily, and we also have at least 100,000 foreigners residing in Nigeria as refugees.
“All of these fall under the commission’s responsibilities, to provide them with support,” he stated.
While reaffirming the government’s relentless efforts to ensure the safe return of displaced persons, Ahmed expressed gratitude to President Bola Tinubu for the assistance extended to the commission and the Ministry of Humanitarian Affairs.
The NCFRMI chief also revealed that Nigeria will host the inaugural thematic meeting under its chairmanship of the Rabat Process, with over 100 delegates from the 57 partner countries expected to attend.
It is worth noting that Nigeria assumed the chairmanship of the Rabat Process—a Euro-African dialogue on migration and development—in January 2025.
Ahmed stated that the meeting, scheduled for 13 and 14 May, themed “Youth, Innovation and Education: Driving the Future of Migration,” aims to facilitate bilateral discussions between Nigeria and other nations, ultimately enhancing migration governance.
“Membership in these platforms offers opportunities for knowledge transfer and improved migration management.
“Nigeria’s leadership in the Rabat Process is viewed as advantageous, despite its one-year term,” he added.
The federal commissioner also addressed the challenges of managing migration, emphasising the need for adequate advocacy to educate younger generations about legal migration pathways.
“There is a necessity to inform migrants about the repercussions of irregular migration, which can lead to negative outcomes.
“The focus should be on promoting legal migration pathways to reduce the number of irregular migrants.
“Regular migration involves travelling through lawful channels, whereas irregular migration often entails perilous and unlawful methods.
“Irregular migration can result in hardship and danger, leaving many migrants unable to return to their home countries,” he remarked.
Ahmed, therefore, called for improved coordination and support from various stakeholders, including the media, to enhance migration governance.
Kano State’s influence in Nigeria’s leadership landscape was reaffirmed as Governor Abba Kabir Yusuf and Senator Rabiu Musa Kwankwaso were named top honorees at the 10th Annual Lecture and Awards Ceremony organized by Authentic News Daily.
The event, set for Saturday, May 10, 2025, at Arewa House in Kaduna, will celebrate their contributions to governance and public service.
According to a statement by Governor Yusuf’s spokesperson, Sanusi Bature Dawakin Tofa, the ceremony will also honor Nigeria’s First Lady, Senator Oluremi Tinubu, as the “Authentic Woman of the Year.”
Governor Yusuf will receive the “Authentic Humanitarian Governor of the Year 2024” award for his transformative leadership and grassroots development initiatives, which have significantly improved lives in Kano State.
Senator Kwankwaso, national leader of the New Nigeria People’s Party (NNPP) and former Kano governor, will be recognized as the “Authentic Politician of the Year 2024” for his visionary leadership and enduring legacy of mentorship.
Themed “Religion as a Tool for Peace and National Unity,” the event will feature a keynote address by former Chief of Army Staff, General Tukur Yusuf Buratai (Rtd). Prominent speakers, including Rev. Joseph John Hayab of the Christian Association of Nigeria, Sheikh Halliru Abdullahi Maraya of the Global Peace Foundation, and National Security Adviser Nuhu Ribadu, will discuss the role of religion in fostering national unity.
The awards committee lauded Yusuf and Kwankwaso for their “remarkable dedication to public good” and “unmatched service to humanity,” noting that the honors followed a rigorous evaluation of their impact and national relevance.
The recognition of Kano’s leaders underscores the state’s prominence in Nigerian politics and highlights a shared commitment to purpose-driven governance.
National
Talata Mafara Resident Praises Tinubu, Matawalle For Eliminating Bandit Leaders Jijji, Kachallah Sagili
Residents of Talata Mafara Local Government Area in Zamfara State have expressed profound gratitude to President Bola Tinubu, Minister of State for Defence Dr Bello Matawalle, National Security Adviser Nuhu Ribadu, and Chief of Defence Staff General Christopher Musa for their roles in the elimination of two notorious bandit leaders
The operation, which targeted Jajji Ɗan Auta and Kachallah Sagili, has been hailed as a significant step towards restoring peace in the troubled region.
Yakubu Ibrahim Mafara, speaking on behalf of the Talata Mafara community, issued a statement on Friday commending the concerted efforts of the Nigerian government and security forces.
“We are very grateful to Matawalle, Tinubu, NSA, and others,” he said, reflecting the community’s relief and optimism following the operation.
The statement underscored the profound impact of the operation on the local population, which has long endured the terror inflicted by bandit groups in Zamfara State.
The operation took place on Thursday in Maikwanugga, a community within Talata Mafara Local Government Area, where security forces, alongside local vigilante groups, conducted targeted patrols along the Mafara axis.
According to the statement, reports indicate that Jijji Ɗan Auta and Kachallah Sagili, both feared bandit leaders responsible for numerous attacks, kidnappings, and extortion in the region, were neutralised during the operation.
” Their deaths have been described as a turning point for the community, which has suffered years of violence and insecurity.
“The killing of Jijji Ɗan Auta has brought relief and fresh air into our community,” Yakubu said, echoing the sentiments of residents who have lived under the shadow of banditry for years.
The operation is seen as a direct response to the escalating violence in Zamfara, where armed groups have terrorised rural communities, disrupted livelihoods, and displaced thousands.
The community’s gratitude reflects growing confidence in the government’s commitment to tackling insecurity in Nigeria’s northwest.
Meanwhile, the operation was a collaborative effort involving the Nigerian military and local vigilantes, who have increasingly played a critical role in intelligence-gathering and community defence.
The patrols in the Mafara axis were part of a broader strategy to dismantle bandit strongholds and restore normalcy to Zamfara, a state that has become a hotspot for banditry and kidnapping in recent years.
“The elimination of Jijji Ɗan Auta and Kachallah Sagili is expected to weaken the operational capacity of bandit groups in the region.”