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Sunday, June 23, 2024
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”.
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