By Halimah Olamide
The Central Bank of Nigeria on Saturday said it’s not planning to convert $30bn deposits in domiciliary accounts to Naira.
The apex bank described as fake a publication that said the government is considering the move as one of the strategies to improve the strength of the Nigerian currency and stabilize the economy.
A statement made available to the NPO Reports by Sidi Ali, Director of Corporate Communications of the CBN said similar narratives had been spread in the past few months
“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,” the bank said
The statement added that the fake news is “absolutely false and aims to trigger panic in the foreign exchange market.
It said this is the same market the bank is working “assiduously to stabilize, as evidenced by its recent work and policy directions.”
The bank said 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.
“ 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.”