The Central Bank of Nigeria (CBN) has dismissed the insinuations that it intends to convert the foreign exchange (FX) savings in the domiciliary accounts into naira to check shortage.
In a statement, the Acting Director of Corporate Communications, Osita Nwanisobi, said those spreading the claims were criminal speculators, who intended to create panic in the market.
He urged holders of domiciliary accounts and other members of the banking public to go about their legitimate foreign exchange transactions without fear.
According to him, the CBN had put in place a waterproof monitoring mechanism to guarantee the seamless sale of FX to customers, who supported their requests with relevant documentation.
Nwanisiobi said the apex bank had also secured the commitment of chief executive officers of banks that customers with legitimate requests would not be turned back.
The apex bank assured the public that it will monitor the deposit money banks (DMBs) to ensure they comply with set rules and meet the legitimate foreign exchange needs of Nigerians.
The regulator had earlier warned the financial institutions against flouting extant rules.
The CBN, last week, stopped the funding of FX to Bureau De Change operators (BDCs), handing over the sale to commercial banks. Subsequently, bank chiefs met to review the situation after which they expressed their readiness to work with the regulator for a seamless implementation of the new FX template.
The naira has continued to regain its lost margin to the panic that followed FX restriction to BDCs. On Monday, the local currency traded between N505/$ and N510/$ at the parallel market as speculation eased out.