The Central Bank of Nigeria (CBN), has said that it is not planning to convert domiciliary accounts into Nigeria.
In a signed statement by Acting Director Corporate Communications Department, Mrs Hakama Sidi Ali, the report is not only false but aims to trigger in the foreign exchange market.
Nigeria’s foreign exchange market have been under tremendous pressure as the exchange rate continues to rise.
The statement read in part: “The attention of the Central Bank of Nigeria (CBN) has been drawn to a story published by a 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 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.
“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.”
The Apex Bank, therefore, advises, in the strongest terms, against the peddling of false reports that have the potential to be disruptive to the economy insisting that it is “the only designated authority for monetary policy changes and will always advise on any policy change(s) before they are brought into operation.”
