CBN Speaks On Plan To ‘Converting Domiciliary Account Holdings To Naira
The Central Bank of Nigeria (CBN), on Saturday refuted allegations that the Federal Government is contemplating converting $30 billion domiciliary deposits to Naira.
Central Bank of Nigeria made this known in a statement by the Director of Corporate Communications, Sidi-Ali, Hakama, on its X handle.
The statement reads: ” The attention of the Central Bank of Nigeria (CBN) has been drawn to a story published bya national newspaper alleging that the Federal Government is considering converting $30bn domiciliary deposits to Naira.
“This allegation is absolutely false and aims to trigger panic in the foreign exchange market,which the CBN is working assiduously to stabilize, as evidenced by its recent work and policy directions.
“Similar false narratives have been spread on the work of the CBN over the past few monthsand it is clear that vested interests are determined to sabotage our efforts. We want to assure the general public that CBN is working to build confidence and wouldnever do anything to undermine the currency and the economy.
“We, therefore, urge all stakeholders to disregard stories aimed at causing panic in the systemand see them clearly for what they are – acts of national sabotage.We wish to advise, in the strongest terms, against the peddling of false reports that have thepotential to be disruptive to the economy. The Bank is the only designated authority formonetary policy changes and will always advise on any policy change(s) before they arebrought into operation.
“The CBN is always open to answer questions about our policies.”
Source: X | cenbank
