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LequteMan
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Nigeria- CBN governor, Godwin Emefiele, has allayed fears that the government planns to confiscate or covert the funds in domiciliary accounts for any reason.
Emefiele said allegation that the government was contemplating converting the $20 billion reportedly idling away in individual domiciliary accounts was unfounded.
“There is no intention; there will never be that intention,” Mr. Emefiele said in answer to a question on the issue. “It is not within the view of the bank to begin to talk about converting people’s domiciliary accounts. This should be taken seriously.
“The banks will continue to allow domiciliary account holders unfettered access to the funds in their accounts. What we are trying to do is to make the market open as much as possible and not create further tightening situations that would create problems for the economy.”
He spoke at the end of the 248th meeting of the Monetary Policy Committee, MPC, in Abuja.
Emefiele said allegation that the government was contemplating converting the $20 billion reportedly idling away in individual domiciliary accounts was unfounded.
“There is no intention; there will never be that intention,” Mr. Emefiele said in answer to a question on the issue. “It is not within the view of the bank to begin to talk about converting people’s domiciliary accounts. This should be taken seriously.
“The banks will continue to allow domiciliary account holders unfettered access to the funds in their accounts. What we are trying to do is to make the market open as much as possible and not create further tightening situations that would create problems for the economy.”
He spoke at the end of the 248th meeting of the Monetary Policy Committee, MPC, in Abuja.
