The Central Bank of Nigeria has described as false the rumours suggesting that Polaris Bank is undergoing liquidation.
In a post on X , the central bank assured the public that the country’s banking system remains stable and secure.
The clarification follows a viral post, claiming that Polaris Bank was facing liquidation for its inability to meet the Bank’s recapitalisation requirements, that could lead to losing its operating licence, with the Nigeria Deposit Insurance Corporation set to take over the process.
It further alleged that founder of the Eleganza Group, Razaq Okoya, had made a bid to acquire and revive the bank, pending approval from regulators and shareholders.
In the strong reaction via sharing a screenshot of a viral claim, the apex bank flagged it as “fake content” and consequently debunked the claim.
The Apex Bank made it clear that the rumour did not reflect the current state of the Nigerian banking sector.
“This content is fake. Let the public be guided. The Nigerian Banking System is Safe and Secure,” Central bank stated.
