The Central Bank of Nigeria has refuted rumors on its plans to nationalise Unity Bank Plc.

The acting Director, Corporate Communications Department, CBN, Osita Nwanisobi said “the report is fake news”.

Nwanisobi said that the public should disregard the fake news as alleged by an online news medium.

The fake news had claimed that the apex bank’s target examination of Unity Bank showed that the Tier 2 lender was in grave financial condition, with Capital Adequacy Ratio and non-performing loans ratio that breach prudential standards.

The CBN’s Monetary Policy Committee had noted in the communiqué said, “The Capital Adequacy Ratio and the liquidity ratio both remained above their prudential limits at 15.8 and 38.9 per cent, respectively.

“The NPLs at 5.89 per cent in April 2021 showed progressive improvement compared with 6.6 per cent in April 2020.”

Unity Bank’s audited FY’ 2020 results showed improved performance in key areas.

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