Nigeria says deposits in its banks safe

Nigeria’s central bank said all its lenders are safe, aiming to quell fears after it ousted the management of Skye Bank earlier this week for failing to meet capital and liquidity thresholds.

“The Central Bank of Nigeria hereby reassures the banking and general public that their deposits remain safe,” Isaac Okorafor, a spokesman for the Abuja-based regulator, said.

“There is, therefore, no need for panic withdrawals from any bank.”