The climate in which Nigerian banks are operating must be really challenging. Imaging the other day, it was widely rumoured that Nigerian banks are distressed. One begins to wonder the fate of depositors of the banks that would be affected.
Just as I was contemplating the next line of action, I got this report that one of the banks precisely Intercontinental Bank would be opening 25 new branches next month and with additional 45 branches on stream, the bank equally is rolling out drums to celebrate its 20th year anniversary.
These activities negate all known distress signals, my contemplation is settled, I think I can rest, Intercontinental Bank surely must be solid.
The Central Bank of Nigeria may be correct then with their statement about Intercontinental Bank and the Banking Industry in general.
- "Intercontinental Bank Plc remains healthy and has been meeting her obligations to her customers;
- the bank has been participating actively at the foreign exchange Retail Dutch Auction (RDAS), where it bids regularly on behalf of her customers who require foreign exchange for their transactions; and
- the Central Bank of Nigeria has not received any adverse report from her correspondent and/or other foreign banks of any default or unprofessional conducts."
- Nigerian Banks are safe and strong.
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