The Central Bank of Nigeria (CBN) at the weekend described as absolute falsehood an allegation by a national daily that the Federal Government is considering converting $30bn domiciliary deposits in the nation’s banks to Naira.

The allegation, Mrs. Hakama Sidi-Ali, Acting Director, Corporate Communications at the apex bank lamented “aims to trigger panic in the foreign exchange market, which the CBN is working assiduously to stabilize, as evidenced by its recent work and policy directions.”

She urged all stakeholders to “disregard stories aimed at causing panic in the system and see them clearly for what they are – acts of national sabotage.”

Similar false narratives, she said, have been spread on the work of the CBN over the past few months, saying it has become “clear that vested interests are determined to sabotage our efforts.”

The statement assured the general public that CBN is working to build confidence and would never do anything to undermine the currency and the economy.

It advised in the strongest terms against the peddling of false reports that have the potential to be disruptive to the economy, adding that the CBN “is the only designated authority for monetary policy changes and will always advise on any policy change(s) before they are brought into operation.