Breaking News from the Central Bank of Nigeria

The CBN has noted with concern stories in some segments o the press purporting to report decisions taken as a result of the ongoing audit of Nigerian banks.

The Central Bank confirms that examiners have concluded their work on 11 out of the 14 banks not included n he first audit exercise. They have also made significant progress on the remaining three banks and these are Citibank, Stanbic IBTC and Standard Chartered.

The Central Bank confirms that the complete reports are due to be presented and deliberated upon by the Committee of Governors and the EXCO of NDIC in the next two weeks and only after the process is completed will final decisions be taken.