Nigeria’s Central bank assures No Plan to Covert Forex in domiciliary Accounts

CBN identifies major economic sabotage in Nigeria

Nigeria’s Central bank assures No Plan to Covert Forex in domiciliary Accounts – The Central Bank of Nigeria (CBN) says there are no plans to convert forex in domiciliary accounts of bank customers into naira as being widely speculated.

The Acting Director of Corporate Communications at CBN, Osita Nwanisobi, made this clarification, saying such speculators were trying to create panic among bank customers.

This is following a new forex policy of the CBN that Bureaux de Change (BDC) operators would no longer be supplied with forex from the apex bank.

He assured Nigerians of sufficient forex at the banks for Invisibles such as basic travel allowance (BTA) medical fees and tuition.

Nwanisobi  said “The CBN never planned to tamper with the foreign exchange deposits in the accounts of customers, insisted that those making such allegations were criminal speculators whose intention was to create panic in the foreign exchange market.”

He insisted that the CBN never suggested or imply such, urging operators of domiciliary accounts and other members of the banking public to go about their legitimate foreign exchange transactions and disregard fictitious stories.

He reiterated that that would be monitoring the activities of the banks to ensure to guarantee the seamless sale of foreign exchange to customers who supported their requests with relevant documentation.

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