Federal Government, on Saturday, denied that it plans to convert the $30 billion in depositors’ domiciliary accounts to Naira.
A newspaper (not First News) had reported on Saturday morning that the Federal Government had concluded plans to convert foreign exchange in domiciliary accounts as part of its efforts to provide more foreign exchange and save the Naira from further depreciation.
CBN has, however, refutted the reports as ‘fake news’ on its official X page, saying, “No plans to convert $30bn domiciliary deposits to naira. This news is fake!”
Also, Coordinating Minister of Economy, Mr. Wale Edun, corroborated the apex bank’s denial, stressing that the Federal Government had no such intention.
Edun said, “There is no iota of truth in reports that the Federal Government plans to convert foreign exchange in depositors’ domiciliary accounts to Naira.
“The publication of such falsehood at a time when the government is working to restore economic stability and confidence in the national currency is tantamount to economic sabotage.
“This report violates the standards of responsible journalism and it is a breach which will no doubt be taken up by the appropriate authorities in due course.
“For the avoidance of doubt, I emphasize that depositors’ foreign currency in their domiciliary accounts will not be converted to naira.”