The Federal Government has dismissed a report that it plans to convert foreign exchange in depositors’ domiciliary accounts to naira, describing it as tantamount to economic sabotage.
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Some sections of the media on Saturday reported alleged plans by the Federal Government to convert foreign exchange in domiciliary accounts.
But the Coordinating Minister of Economy, Wale Edun, in a statement on Saturday, said such reports were false and misleading.
According to Edun: “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.
“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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