Central Bank of Nigeria Refutes Polaris Bank Liquidation Rumors
- Central Bank Statement: The Central Bank of Nigeria publicly refuted claims that Polaris Bank is undergoing liquidation, asserting that the bank has not failed to meet recapitalization requirements and emphasizing the safety and stability of the Nigerian banking system.
- Recapitalization Requirements: As part of industry reforms introduced in March 2024, the CBN mandated banks to meet new minimum capital requirements by March 31, 2026, with international banks required to raise at least ₦500 billion, aimed at enhancing the resilience and stability of the financial system.
- Successful Compliance: By the conclusion of the recapitalization exercise, the CBN confirmed that 33 banks successfully met the new capital requirements, collectively raising ₦4.65 trillion to support industry growth and sustainability, indicating the overall health of the banking sector.
- Misinformation Concerns: The spread of misinformation regarding Polaris Bank has raised public concern, prompting users to call for reporting accounts that disseminate false information, highlighting the rapid dissemination of claims on social media and their potential real-life consequences.
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Technical Analysis for SAFE
Technical Sentiment Analysis for Safe (SAFE). As of , Safe (SAFE) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 4 indicators are flashing buy, while 2 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for SAFE stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, SAFE is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Safe (SAFE) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0405 | 0.0669 | 0.0901 | 0.116 | 0.14 | 0.166 | 0.189 |
| Fibonacci | 0.0669 | 0.0858 | 0.0975 | 0.116 | 0.135 | 0.147 | 0.166 |
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