Home BUSINESS BANKING & FINANCE Economic Saboteurs On The Prowl, CBN Alerts Nigerians

Economic Saboteurs On The Prowl, CBN Alerts Nigerians

The Central Bank of Nigeria (CBN) has alerted Nigerians and stakeholders about the economic Saboteurs that are currently causing panic in the system.
“We urge all stakeholders to disregard stories aimed at causing panic in the system and see them clearly for what they are – acts of national sabotage.
“We wish to advise, in the strongest terms, against the peddling of false reports that have the potential to be disruptive to the economy.”
In a statement today, February 3, by the Acting Director in the Corporate Communications Department, Mrs. Hakama Sidi Ali, the apex bank drew attention to a recent story published by a national newspaper alleging that the Federal Government is considering to convert $30 billion domiciliary deposits to Naira.
CBN described such story as “absolutely false.”
The statement said that the story is aimed at triggering panic in the foreign exchange market, “which the CBN is working assiduously to stabilize, as evidenced by its recent work and policy directions.”
The appex bank regretted that similar “false narratives have been spread on the work of the CBN over the past few months.
“It is clear that vested interests are determined to sabotage our efforts.
“We want to assure the general public that CBN is working to build confidence and would
never do anything to undermine the currency and the economy.”
The statement stressed that the apex Bank is the only designated authority for monetary policy changes “and will always advise on any policy change(s) before they are brought into operation.
“The CBN is always open to answer questions about our policies.”

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