The Central Bank is not intending to alter or convert $30 billion domiciliary account deposits into Naira.
The Central Bank’s Acting Director, Communications Department, Mrs Hakama Sidi-Ali today cleared the air as regards that.
Her reaction was a counter to the reports going around in the media that the CBN is planning to stop the continuous retrogression of the Naira.
The attention of the CBN has been drawn to a story published by a national newspaper, alleging that the Federal Government is considering converting 30 billion dollars in domiciliary deposits to Naira. She says the news is false and it is a saboteur.
This allegation is absolutely false and aims to trigger panic in the foreign exchange market, which the CBN is working assiduously to stabilise, as evidenced by its recent work and policy directions.
Similar 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,”
Hakama Sidi-Ali
The Central Bank would never do such a thing or things that would cripple the economy, she further guaranteed.
She wants all stakeholders not to pay the littlest attention to false stories that are saboteurs, and that the Central Bank is always open and ready to shed light on its policies.
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 CBN is the only designated authority for monetary policy changes and will always advise on any policy changes before they are brought into operation. The CBN is always open to answer questions about our policies,”
Hakama Sidi-Ali
The Naira has been on an uncontrolled decline recently, it is at 1500 Naira to the U.S Dollar.
This is causing panic among the citizens and calls have been made to the Central Bank to strengthen the currency with immediacy.
