On Monday, CBN replaced almost the entire board and management of Sky Bank Nigeria, which has a subsidiary in Sierra Leone.
Sky Bank Sierra Leone is one of about 10 financial institutions with ties to Nigerian banks.
CBN accused the parent Nigerian bank of falling short on the critical indicators of liquidity and capital adequacy ratios, according to reports.
But its failure to provide further details for its decision prompted panic withdrawals.
News of the development broke out on social media in Sierra Leone, where people were urged to withdraw their monies.
The BSL said Thursday in a statement that the move by the Nigerians would have no impact on its Sierra Leone subsidiary.
“Customers of the bank and the general public are assured that Sky Bank Sierra Leone is sound by all prudential parameters and that depositors’ funds are safe,” the statement signed by the Director of Banking Supervision, Mr Tapsiru Dainkeh, said Thursday.
The Nigerian authorities blamed “mischief makers” for the situation.
In a statement, CBN said the infusion of the new board members and management was just a “proactive regulatory action” meant to ensure that the bank did not fail in its relevant prudential ratios.
“Neither Sky Bank nor any other bank in the industry is in distress,” it said
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