Home Banking CBN denies notice for dissolution of Union, Polaris, Keystone banks

CBN denies notice for dissolution of Union, Polaris, Keystone banks

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The Central Bank of Nigeria (CBN) has in a statement on June 4 denied a notice purportedly from it announcing the dissolution of the boards of three commercial banks.

The banks listed in the fake memo are Union, Polaris and Keystone.
However, at a closer look at the fake and false memo, it is dated January 10, 2024.
The date alone is a red flag as the CBN would not have issued such a vital memo six months ago and release it just now.
The correcting memo that urged the public to disregard the false alarm signed by Hahaha Sidi Ali, Acting Director of Corporate Communications urged Nigerians not to accord any regard to the false memo.
CBN however assured that after the initial memo dissolving Heritage Bank board on June 3, it hasn’t issued any further directive on any banks.
The regulator of the banking industry in Nigeria assured the public that all Nigerian banks are in good standing and the sector virile and capable of sustaining the country’s economy.
CBN noted that all the commercial banks are healthy and seriously working towards beating the new deadline in 2025 for the new re capitalization and upped capital base.

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