The Central Bank of Nigeria, CBN, has announced it has no plans to convert domiciliary account holdings into Naira as is being peddled in the media.
The Apex bank in a statement signed by the Assistant Director, Corporate Communications Sidi-Ali, Hakama refuted reports by a national daily which alleged 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, the statement said.
”Similar false narratives have been spread about the work of the CBN over the past few months and 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 would never do anything to undermine the currency and the economy”.
The CBN then urged all stakeholders to disregard stories aimed at causing panic in the system and see them as clear acts of national sabotage.
”We wish to advise, in the strongest terms, against the peddling of false reports that has the potential to be disruptive to the economy. The Bank is the only designated authority for monetary policy changes and will always advise on any policy change(s) before they are
brought into operation”.