Nigerian banks have no exposure to Silicon Valley Bank- CBN

The Governor of Nigeria’s Central Bank, Godwin Emefiele says that no financial institution in Nigeria has exposure to the now collapsed bank, Silicon Valley Bank.


Emefiele stated this while speaking during the meeting of the CBN’s monetary policy committee.


According to him, Nigeria’s financial regulators have put in stringent measures to protect financial institutions in such cases, thereby protecting the country’s banking system.


He stressed that the country’s Apex bank gives priority to protecting customer’s investments.


“We will rather dispose of shareholders than make depositors lose money,” Emefiele said.





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