Some holders of domiciliary accounts in Nigeria have for some time been agitated over a rumour that the apex Bank, Central Bank of Nigeria was planning to turn their hard currency into local currency. Now, the apex Bank has publicly declared that it is a false assumption.
The Bank said that the story has no basis in its pronouncements or plans. It would really be weird if the CBN would do such a thing under normal circumstances because there is no basis for having a domiciliary account if that was going to be the case, and turning US dollars or British pounds into naira is absurd.
It was a big relief when the CBN came out with the statement that such action has never come up into their intentions.
The CBN made following claim: