“No Plan To Convert Domiciliary Accounts Into Naira” – Says CBN

Paying Social Media Jobs
Central Bank of Nigeria (CBN)
Central Bank of Nigeria (CBN)
Social sharing

The Central Bank of Nigeria (CBN) has denied a claim that it directed banks to convert all customers’ domiciliary accounts meant for dollar and other hard currency transactions into naira accounts.

In a statement on Saturday, Director, Corporate Communications, Osita Nwanisobi, the apex bank said a fake circular with a fake CBN logo curiously dated “13 September 2021” (next Monday), and purportedly issued by its Trade and Exchange Department directed that all Deposit Money Banks, International Money Transfer Operators (IMTOs) and members of the public are to convert domiciliary account holdings into naira.

Central Bank of Nigeria (CBN)

“We wish to reiterate that the Bank has not contemplated, and will never contemplate, any such line of action. The speculation is a completely false narrative aimed at triggering panic in the foreign exchange market,” CBN said.

The apex bank recalled that it had assured that there was no plan to convert the foreign exchange in the domiciliary accounts of customers into Naira in order to check the alleged shortage of availability of the United States Dollar (USD).

“Operators of domiciliary accounts and other members of the banking public are therefore advised to completely disregard these fictitious documents and malicious rumours, and go about their legitimate foreign exchange transactions.”

The apex bank also warned corporate bodies and members of the public against the unauthorised use of the bank’s logo for any purpose, stating that the appropriate authorities have been notified and culprits will be sanctioned.

READ ALSO  Censorship of WeChat users extends beyond mainland China
About Uchenna Mbam 8811 Articles
Uchenna Mbam is a reliable full time Blogger on news media as Editor/Publisher. Be free to Contact me via Facebook @Mbam Uchenna or Email me @uchennambam23@gmail.com

Be the first to comment

Leave your comment

Paying Social Media Jobs
Paying Social Media Jobs
Paying Social Media Jobs