CBN denies plans to transform $30 billion domiciliary deposits into Naira

CBN denies plans to transform $30 billion domiciliary deposits into Naira

CBN denies plans to convert $30 billion domiciliary deposits into Naira

The Central Financial institution of Nigeria has denied experiences claiming it plans of changing $30 billion domiciliary deposits in Nigerian business banks into Naira. 

Punch had reported that the transfer was to assist stabilize the nationwide forex. A “Presidential supply” was quoted as saying the issue of foreign exchange shortage and the naira fall was an elite subject, including that the Federal Authorities wouldn’t fold its arms and proceed to look at some people hoarding foreign currency echange on the expense of the naira.Learn the report here.

Nonetheless, in a swift response, the CBN by way of its social media handles denied having such of a plan.

CBN denies plans to convert $30 billion domiciliary deposits into Naira


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