[Exclusive] Central Bank Debunks Fake News: No Plans To Convert $30 Billion Domiciliary Deposits To Naira

[Exclusive] Central Bank Debunks Fake News: No Plans To Convert $30 Billion Domiciliary Deposits To Naira

In a swift response to recent circulating rumors, the Central Bank of Nigeria (CBN) has categorically denied any plans to convert $30 billion in domiciliary deposits into Naira. The apex bank refutes the news, labeling it as completely false and without merit…..READ MORE

In an official statement, the CBN clarified, “This news is fake! There are no plans whatsoever to convert $30 billion domiciliary deposits to Naira. Such rumors are baseless and should be disregarded by the public.”

This announcement comes as a reassurance to depositors and the general public, debunking misinformation and maintaining transparency in the financial sector. The CBN urges everyone to rely on official communications and dismiss unfounded speculations.

The swift response from the Central Bank aims to quell any concerns or panic stemming from the false news, emphasizing the commitment to maintaining the integrity and stability of the nation’s financial system.