{"id":19099,"date":"2023-03-25T08:43:18","date_gmt":"2023-03-25T08:43:18","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/nigerian-banks-not-directly-exposed-to-svb-says-central-bank-governor-africa-bitcoin-news\/"},"modified":"2023-03-25T08:43:18","modified_gmt":"2023-03-25T08:43:18","slug":"nigerian-banks-not-directly-exposed-to-svb-says-central-bank-governor-africa-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/nigerian-banks-not-directly-exposed-to-svb-says-central-bank-governor-africa-bitcoin-news\/","title":{"rendered":"Nigerian Banks Not Directly Exposed to SVB Says Central Bank Governor \u2013 Africa Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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A recent review of Nigerian banks\u2019 bond portfolios showed that the institutions were not directly exposed to Silicon Valley Bank, the governor of the country\u2019s central bank has said. In addition, the governor said the Central Bank of Nigeria\u2019s stringent guidelines help to create a \u201cvery safe\u201d banking system. <\/strong><\/p>\n

Priority Given to Depositors<\/h2>\n

According to the governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, a recent review of Nigerian banks\u2019 bond portfolios showed that the country\u2019s financial institutions had no direct exposure to Silicon Valley Bank (SVB). Emefiele, who made the remarks during a meeting of the bank\u2019s monetary policy committee, added that the central bank\u2019s so-called prudential guidelines help to ensure that only healthy banks are allowed to operate.<\/p>\n

Some of the guidelines and considerations used by the CBN include banks\u2019 non-performing loans (NPL), which averaged 4.2%, and the capital adequacy ratio of 13.7%. According to Emefiele, these ratios, as well as the banks\u2019 average liquidity and loan-to-deposit ratios of 43% and 52% respectively, indicate that Nigerian banks are \u201cvery safe.\u201d<\/p>\n

Also, in his remarks published by Nairametrics, Emefiele implied that the central bank has and will always prioritize bank customers.<\/p>\n

\u201cWe will rather dispose of shareholders than make depositors lose money,\u201d Emefiele said.<\/p>\n

To support this claim, Emefiele is quoted in the report stating no Nigerian depositor has lost money to a failed bank since 2003.<\/p>\n

Register your email here to get a weekly update on African news sent to your inbox:<\/em><\/p>\n

What are your thoughts on this story? Let us know what you think in the comments section below. <\/strong><\/em><\/p>\n

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\nTerence Zimwara <\/h6>\n

\nTerence Zimwara is a Zimbabwe award-winning journalist, author and writer. He has written extensively about the economic troubles of some African countries as well as how digital currencies can provide Africans with an escape route.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons, Poetra.RH \/ Shutterstock.com<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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