The Chartered Institute of Bankers of Nigeria, CIBN, says the banking industry in the country is strong, focused and committed to addressing all the contending issues in the sector, especially the naira scarcity.

A statement issued by Dr Ken Opara, the President of CIBN on Monday, said the industry was committed to restoring normalcy in the system.

Opara was reacting to insinuations in some quarters that the Central Bank of Nigeria, CBN planned to shut down some deposit money banks.

According to him, the soundness of the banking industry has been reaffirmed severally by the CBN, which is the only body suited to assess the health of the financial industry.

“We equally like to allay the fears around the shortage of materials for printing the new naira notes, which the CBN has also discredited. This has also been debunked by the Nigeria Security Printing and Minting (NSPM) Company, which described the story as false, baseless and misleading.

“NSPM has assured that it has made adequate arrangements to produce redesigned naira notes as well as other denominations continuously,” he stated.

Opara added: “We implore the public to disregard any contrary information as the banking community remains focused and committed.

“The industry is working round the clock to address all contending issues to restore normalcy. We indeed appreciate your continued patience and understanding as we work together toward building the Nigeria of our dream.’

Source: https://dailypost.ng/2023/02/13/naira-scarcity-banks-will-restore-normalcy-soon-cibn/

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