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The Central Bank of Nigeria has informed the public that it has put in place monitoring measures to guarantee that deposit money banks meet clients’ lawful foreign exchange needs.
This was disclosed by Osita Nwanisobi, the apex bank’s acting Director in Charge of Corporate Communications, in a statement released by the bank on Monday.
Nwanisobi informed the press on Monday that the CBN has put in place a monitoring system to ensure the smooth supply of currency to clients who backed up their requests with appropriate paperwork. He went on to say that the CBN had obtained assurances from the banks, via their CEOs, that clients with genuine requests would not be turned away.
He also shot off claims that the CBN was planning to convert currency in clients’ domiciliary accounts into naira in order to address a perceived scarcity of dollars. He emphasized that individuals making such claims were criminal speculators whose objective was to cause panic in the foreign exchange market.
He, however, advised domiciliary account holders and other members of the banking public to carry on with their lawful FX transactions and ignore fabricated reports aimed at putting them against the central bank and causing havoc in the system.
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