The Central Bank of Nigeria has assured the general public that it will not convert the foreign exchange in the domiciliary accounts of customers into naira, as falsely circulated on social media.
A circular purportedly issued by the CBN and circulated on social media claimed that the regulator had directed deposit money banks and international money transfer operators to convert domiciliary account holdings into naira.
But a circular issued on Saturday byth apex bank said it would never contemplate such a line of action, adding that the speculation was completely false and aimed at triggering panic in the foreign exchange market.
The circular titled, ‘CBN categorically denies and strongly condemns peddlers of rumour on domiciliary account holdings,’ was signed by the bank’s Director of Corporate Communication, Osita Nwanisobi.
“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.
“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, as we have no doubt that these rumours are only aimed at impugning the integrity of the Central Bank of Nigeria and activating chaos in the system,” the statement read in part.
It added that the public should note that any circular issued by the CBN would be posted on its website, www.cbn.gov.ng, for the attention of the general public.
CBN stated that it had drawn the attention of appropriate authorities to the development, adding that the culprits would be sanctioned accordingly.