CBN refutes report, backs deregulation – The Guardian
November 5, 2009 by Bunmi Awolusi
Contrary to a media report, the Central Bank of Nigeria (CBN) yesterday declared its total support for the planned reform in the downstream sector of the petroleum industry in the country.
The apex bank has also denied allegation that its action lately on the Equitorial Trust Bank (ETB) is discriminatory of decisions concerning other troubled banks.
The CBN’s position on the planned oil sector reform is sequel to insinuations in a section of the press yesterday (The Guardian not included) that the apex bank was opposed to the deregulation programme, because it considers it as capable of triggering off inflation in the country.
But in a statement last night by its spokesman, Mr. Mohammed Abdullahi, the apex bank said nothing could be further from the truth. He admonished journalists to be cautious and refrain from sensationalism.
