US Banking Crisis: Nigerian Banks Not Directly Exposed to SVB Says Central Bank Governor – Africa Bitcoin News

US Banking Crisis: Nigerian Banks Not Directly Exposed to SVB Says Central Bank Governor

A recent review of Nigerian banks’ bond portfolios showed that the institutions were not directly exposed to Silicon Valley Bank, the governor of the country’s central bank has said. In addition, the governor said the Central Bank of Nigeria’s stringent guidelines help to create a “very safe” banking system.

Some of the guidelines and considerations used by the CBN include banks’ non-performing loans , which averaged 4.2%, and the capital adequacy ratio of 13.7%. According to Emefiele, these ratios, as well as the banks’ average liquidity and loan-to-deposit ratios of 43% and 52% respectively, indicate that Nigerian banks are “very safe.”

Also, in his remarks published by Nairametrics, Emefiele implied that the central bank has and will always prioritize bank customers.To support this claim, Emefiele is quoted in the report stating no Nigerian depositor has lost money to a failed bank since 2003.Tags in this story

Protecting the interests of customers should always be the priority. Kudos to the Central Bank of Nigeria for doing the right thing! BankRun

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