The Central Bank of Nigeria (CBN) has vehemently denied any intentions to convert $30 billion held in domiciliary accounts into Naira, refuting claims made by a national daily suggesting otherwise.
The alleged policy, speculated to stabilize the national currency amidst its recent historic downturn, has been dismissed by the CBN.
In response to recent reports, the CBN, through its Ag. Director of Corporate Communications, Sidi Ali, clarified that the circulating narrative regarding the Federal Government’s contemplation of converting domiciliary deposits is entirely unfounded.
Emphasizing their commitment to stabilizing the foreign exchange market, the CBN aims to counteract the misinformation aimed at instigating market panic and undermining their efforts.
The CBN underscores its dedication to fostering confidence in the economy and currency, urging stakeholders to disregard fabricated stories designed to sow discord and instability.
It reiterates its role as the sole authority for monetary policy adjustments and pledges transparency in communicating any forthcoming changes, inviting inquiries to clarify any misconceptions or concerns.