Friday, April 4, 2025
Home Business CBN REFUTES  PLANS TO CONVERT DOMICILIARY ACCOUNT HOLDINGS INTO NAIRA

CBN REFUTES  PLANS TO CONVERT DOMICILIARY ACCOUNT HOLDINGS INTO NAIRA

The central bank of Nigeria has refutes claims  published by
a national newspaper alleging that the Federal Government is considering converting $30bn domiciliary deposits to Naira.
 The Apex bank says, the  allegation is  false and aims to trigger panic in the foreign exchange market.
This is contained in a statement signed by the Ag. Director, Corporate Communications Sidi-Ali, Hakama.
She says the CBN is working assiduously to stabilize, the FOREX market adding that ” 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”.
The Apex bank further  assures the general public that bank is working to build confidence and will
never do anything to undermine the currency and the economy.
While  urging  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. 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”.
RELATED ARTICLES

UPDATE ON PAYMENT OF UNINSURED SUMS TO DEPOSITORS OF HERITAGE BANK (IN-LIQUIDATION)

In response to concerns raised by depositors of the defunct Heritage Bank whose balances exceed the maximum deposit insurance limit of N5 million, the...

SAVE THE CONSUMERS CONDEMNS MULTICHOICE’S DISCRIMINATORY PRICING BETWEEN NIGERIAN AND SOUTH AFRICAN SUBSCRIBERS.

The executive Director save the consumer Dr. Aliyu Ilias, a non-governmental organisation committed to defending consumer rights, strongly condemns the recent 21% price increase...

HERSHOWCASE 2025: EMPOWERING WOMEN ENTREPRENEURS TO TRADE BEYOND BORDERS.

The Nigerian Export Promotion Council (NEPC) in collaboration with the International Trade Centre (ITC), is set to host HerShowcase 2025 in Abuja, Nigeria, under...

Most Popular

FG CALLS ON IOCs IN NIGERIA TO RAMP UP INVESTMENT .

The Federal Government has called on International Oil Companies (IOCs) operating in Nigeria to ramp up investments in the country’s oil and gas sector,...

UPDATE ON PAYMENT OF UNINSURED SUMS TO DEPOSITORS OF HERITAGE BANK (IN-LIQUIDATION)

In response to concerns raised by depositors of the defunct Heritage Bank whose balances exceed the maximum deposit insurance limit of N5 million, the...

NNPC LTD READY FOR INITIAL PUBLIC OFFER .

The Nigerian National Petroleum Company Limited says,  is at the final stage of getting listed in the capital market, in keeping with the provisions...

SAVE THE CONSUMERS CONDEMNS MULTICHOICE’S DISCRIMINATORY PRICING BETWEEN NIGERIAN AND SOUTH AFRICAN SUBSCRIBERS.

The executive Director save the consumer Dr. Aliyu Ilias, a non-governmental organisation committed to defending consumer rights, strongly condemns the recent 21% price increase...

Recent Comments