Reports gathered that, the Central Bank of Nigeria (CBN) refuted a national newspaper’s claim that the Federal Government is contemplating converting $30 billion in domiciliary deposits into naira
Mrs. Hakama Sidi-Ali, the acting director of corporate communication at the apex bank, issued a statement stating that such an assertion is entirely false and intended to create panic in the foreign exchange market.
Hakama said, “The CBN has been working hard to stabilize this market, as evidenced by its recent policies and actions. In recent months, various unfounded stories have circulated about CBN’s work, indicating that certain vested interests are attempting to undermine their efforts.
“The CBN wishes to reassure everyone that it is committed to building trust and will never do anything detrimental to either the currency or the economy. It urges all stakeholders not to be swayed by sensational reports aimed at causing chaos in the system but rather to view them for what they are acts of national sabotage.
“It strongly advises against spreading fake news with potential economic disruption; monetary policy changes can only be made through designated authorities, such as the CBN, who will provide adequate advice before implementation. Furthermore, CBN remains open and willing to answer any questions regarding its policies.”
