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Senior officials from both the Central Bank of Nigeria (CBN) and the federal Ministry of Finance have vehemently denied any plans to convert funds held in domiciliary accounts into Naira. Contrary to recent reports in a section of the press, Governor Yemi Cardoso and Finance Minister Wale Edun have categorically refuted these claims.
Governor Yemi Cardoso expressed his bewilderment at the publication of what he called a “baseless article” during a critical period in Nigeria’s financial history. He emphatically stated, “There is absolutely no such plan to seize funds in domiciliary accounts or to convert such funds to Naira.”
Finance Minister Wale Edun echoed these sentiments, dismissing the claims as entirely untrue. He stressed that the Federal Government has no intentions of converting foreign exchange in depositors’ domiciliary accounts to Naira. Edun criticized the report, labeling it as economic sabotage and a violation of responsible journalism standards.
Edun added, “For the avoidance of doubt, I emphasize that depositors’ foreign currency in their domiciliary accounts will not be converted to Naira.” Both officials urged caution against spreading unfounded rumors and reassured the public that the government is committed to restoring economic stability and confidence in the national currency.