The Central Bank of Nigeria (CBN) has dismissed rumors of purported plans to convert approximately $30 billion domiciliary deposits into Naira. The acting Director, Corporate Communications of the CBN, Mrs. Hakama Sidi-Ali, issued a statement in Abuja, asserting that the widely circulated story is unfounded.
In the statement, Sidi-Ali refuted the claims, labeling them as “absolutely false” and designed to incite panic in the foreign exchange market. She emphasized the CBN’s commitment to stabilizing the forex market through recent efforts and policy directions.
Sidi-Ali pointed out that misleading narratives about the CBN’s activities have been circulating in the media, suggesting a deliberate attempt to undermine financial sector reforms. The CBN reiterated its dedication to building public confidence in its policies, assuring that it would not engage in actions detrimental to the currency and the economy.
The CBN urged the public to disregard the story and emphasized the importance of seeking confirmation from the CBN before disseminating information to the media. It cautioned against spreading false reports that could potentially disrupt the economy, highlighting that the CBN is the sole authority for monetary policy changes and commits to communicating any policy adjustments before implementation. The CBN also encouraged stakeholders to approach them directly for clarification on policy matters.