The Central Bank of Nigeria (CBN) says it has no plans to convert $30bn deposits in domiciliary accounts to Naira.
The apex bank was reacting to media reports claiming the Federal Government was considering that policy in the near future as part of efforts to boost the level of foreign exchange supply in the country.
The scarcity of foreign exchange has driven the exchange rate of the dollar to u precedented level in recent times.
But the Acting Director of Corporate Communications of the CBN, Hakama Sidi-Ali, dismissed the speculations in statement on Saturday in Abuja.
Describing the reports as absolutely false, Sidi-Ali said these were aimed at triggering panic in the foreign exchange market, which the CBN was working assiduously to stabilise, as evidenced by its recent work and policy directions.
Also, the apex bank said similar false narratives have been circulated on its work over the past few months, adding that it was clear that vested interests were determined on sabotaging the efforts of the Bank.
“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,”, she said.
