Nigeria Punch Newspaper Stands by Its Story on Government's Consideration to Convert $30 Billion of Nigerian Deposit Funds to Save Naira

On February 3, 2024, Saturday PUNCH reported on the federal government's consideration of converting $30 billion domiciliary deposits to Naira as part of efforts to stabilize the currency.

The story cited a senior government official in the presidency who spoke anonymously on the matter. Despite efforts to obtain a response from the Central Bank of Nigeria (CBN), the spokesperson was unreachable.

Both the Ministry of Finance and the CBN vehemently opposed the story, with the latter issuing a rejoinder. Saturday PUNCH emphasized that their publication reflected the official's statements and contributed to public discourse on the topic.

They acknowledged the government's denial and provided the CBN with an opportunity to respond. Having fulfilled their duty in reporting the story, Saturday PUNCH stands by their journalistic integrity amidst the controversy