CIBN Reaffirms Banking Sector Stability Amid Economic Challenges

In the wake of recent media reports raising concerns over the health of certain financial institutions in Nigeria, the Chartered Institute of Bankers of Nigeria (CIBN) has issued a strong reassurance to the public that the Nigerian banking sector remains fundamentally stable, sound, resilient, and safe.

Speaking through a formal statement on May 21, 2025, Prof. Pius Olanrewaju, President and Chairman of Council of CIBN, condemned the circulation of misleading and unfounded publications aimed at undermining confidence in the banking industry. He emphasized that such reports are detrimental to ongoing reform efforts designed to strengthen the nation’s financial system.


“The attention of The Chartered Institute of Bankers of Nigeria (CIBN) has been drawn to misleading publications making rounds in the media, questioning the health of one of our financial institutions,” said Prof. Olanrewaju. “We would like to emphatically state that the assertion in the purported publications are not only misleading but unfounded. They are no doubt designed to disrupt the ongoing reforms and steady progress being made to strengthen the Nigerian banking sector.”

Aligning with the Central Bank of Nigeria (CBN), the CIBN called on Nigerians to disregard false reports and rely on official communications from regulatory authorities. The statement further encouraged customers and stakeholders to continue their banking transactions with confidence, underscoring the sector’s sound regulatory oversight and robust capital base.


The reassurance comes amid reports, including an International Monetary Fund (IMF) observation, highlighting the closure of 234 bank branches and 649 ATMs across Nigeria over recent years. These closures have sparked public concern about access to banking services and the sector’s overall health. However, banking experts clarify that these closures largely reflect strategic digital transformation initiatives and cost optimization strategies within the banking industry.

Many banks are shifting focus toward digital and mobile banking solutions, responding to changing consumer behavior and the increasing demand for seamless, cashless transactions. This transition is part of Nigeria’s broader financial inclusion agenda and efforts to reduce operational costs, improve efficiency, and enhance customer experience.


Despite global economic uncertainties and domestic challenges, Nigeria’s banking sector has demonstrated remarkable resilience. Regulatory measures, including stringent risk management frameworks, improved corporate governance, and stress testing, have bolstered banks’ capacity to withstand shocks.

According to recent data from the CBN, Nigerian banks maintain strong capital adequacy ratios, liquidity levels, and asset quality metrics. Non-performing loans (NPL) ratios have also improved, reflecting better credit risk management. These factors collectively contribute to the sector’s soundness and capacity to support economic growth.



As the foremost professional body for bankers in Nigeria, the Chartered Institute of Bankers plays a critical role in enhancing the competence and ethics of banking professionals. Through continuous training, certification, and advocacy, CIBN supports industry standards and reforms aimed at safeguarding the sector’s integrity.

Prof. Olanrewaju reiterated CIBN’s commitment to working closely with the Central Bank, the Nigeria Deposit Insurance Corporation (NDIC), and other regulators to ensure the banking industry remains robust and responsive to Nigeria’s developmental needs.


With Nigeria’s large, youthful population and rapid urbanization, the banking sector stands at the forefront of the country’s economic transformation. Opportunities in digital banking, fintech partnerships, sustainable finance, and inclusive credit provision offer pathways for growth and financial deepening.

The CIBN’s statement serves to restore confidence among consumers, investors, and international partners that the Nigerian banking sector is well-positioned to navigate current challenges and continue its contribution to national developmen