FG Reacts To Conversion Of US Dollars In Domiciliary Accounts To Naira

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FEDERAL Government has debunked the news going viral published by one of the major newspapers that it is considering converting US Dollars in Domiciliary Accounts in various banks to Naira.


The Coordinating Minister of Finance, Wale Edun was quoted as saying,

There is no iota of truth in the claims of Punch Newspaper that the Federal Government plans to convert foreign exchange in depositors’ domiciliary accounts to naira.

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“The publication of such falsehood at a time when the government is working to restore economic stability and confidence in the national currency is tantamount to economic sabotage.


“This report in the Punch Newspaper violates the standards of responsible journalism.


“For the avoidance of doubt, I emphasize that depositors’ foreign currency in their domiciliary accounts will not be converted to naira.”

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