A recent review of Nigerian banks’ bond portfolios showed that the institutions were not directly exposed to Silicon Valley Bank, the governor of the country’s central bank has said. In addition, the governor said the Central Bank of Nigeria’s stringent guidelines help to create a “very safe” banking system. Priority Given to Depositors According to the governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, a recent review of Nigerian banks’ bond portfolios showed that the country’s financial institutions had no direct exposure to Silicon Valley Bank (SVB). Emefiele, who made the remarks during a meeting of the bank’s monetary policy committee, added that the central bank’s so-called prudential guidelines help to ensure that only healthy banks are allowed to operate. Some of the guidelines and considerations used by the CBN include banks’ non-performing loans (NPL), which averaged 4.2%, and the capital adequacy ratio of 13.7%. According to Emefiele, these ratios, as well a
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