The Central Bank of Nigeria has dismissed widespread claims suggesting that Polaris Bank is undergoing liquidation, describing the reports as false and misleading.
In a statement released amid growing public concern, the apex bank urged Nigerians to ignore the circulating information, stressing that it did not originate from any official source. The regulator maintained that there is no plan to liquidate Polaris Bank and reassured depositors that the financial system remains secure.
“This content is fake. Let the public be guided,” the bank stated, warning against the dangers of spreading unverified information.
The clarification follows a surge of rumours on social media alleging that Polaris Bank had failed to meet regulatory requirements and was facing possible shutdown. However, both the bank and regulators have firmly denied these claims, noting that operations continue without disruption.
Polaris Bank also addressed the speculation, emphasising that its services are fully active and accessible to customers nationwide. The institution reassured clients that there is no cause for alarm, urging them to rely only on official communication channels for accurate updates.
Established in 2018 after the intervention of the Central Bank, Polaris Bank remains a licensed financial institution operating across Nigeria. Its creation followed the collapse of Skye Bank, as part of efforts by regulators to protect depositors and maintain stability within the banking sector.
Financial analysts have cautioned that misinformation about banks can trigger unnecessary panic, potentially undermining confidence in the financial system. The Central Bank echoed this concern, noting that safeguarding public trust remains a key priority.
By dismissing the liquidation claims, the apex bank reiterated its commitment to ensuring a sound and resilient banking environment. It also encouraged the public to verify information before sharing, especially in matters that could affect financial stability.
Overall, authorities insist that Nigeria’s banking system remains stable, and that Polaris Bank continues to operate normally despite the rumours.
