The Federal Government has debunked media reports claiming it plans to convert foreign exchange in depositors’ domiciliary accounts to naira.
The Minister of Finance and Coordinating Minister of the Economy, Olawale Edun, said this in a statement on Saturday.
The minister described the reports as false and misleading.
According to him, such reports were tantamount to economic sabotage as they were capable of creating panic.
“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,” Edun said.