The Central Bank of Nigeria (CBN), has announced that there is no plan to convert domiciliary account holdings into Naira.
The Spokesperson of the Apex bank, Sidi-Ali, Hakama (Mrs) said this while reacting to a story published by a national newspaper alleging that the Federal Government is considering converting $30bn domiciliary deposits to Naira.
She explained that the “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”.
She noted that similar false narratives have been spread on the work of the CBN over the past few months, adding that it is clear that vested interests are determined to sabotage the Bank’s efforts.
According to her, “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.
“We, therefore, urge all stakeholders to disregard stories aimed at causing panic in the system and 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 the potential to be disruptive to the economy”, she said.
She further noted that 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.
“The CBN is always open to answer questions about our policies”, she concluded.
