Nigeria, May 20 -- The Central Bank of Nigeria (CBN) has assured the public that the country's banking sector remains stable, following what it described as misleading media and social media reports about the operations of a regulated financial institution.

In a statement issued on Monday by Hakama Sidi-Ali, acting director of corporate communications, the apex bank said there was no cause for alarm, adding that the financial institution in question is fully compliant with regulatory requirements.

"The attention of the Central Bank of Nigeria (CBN) has been drawn to certain publications and social media reports containing misleading information regarding the operations of a regulated financial institution.

"The CBN wishes to categorica...