Apex bank not converting $20 billion in domiciliary accounts to Naira

Emefiele said this during a presentation at the Monetary Policy Committee resolution on Tuesday, March 22, 2016.

Read: 'About $20 billion idle in domiciliary accounts,' bank's deputy governor says

The Government’s statement is coming after Joseph Nnana, deputy governor, financial system surveillance; CBN indicated that about $20 billion lying idle in various domiciliary accounts.

It was stated that the private domiciliary accounts is one of the numerous reasons why the US dollar keeps fluctuating against Naira.

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Nnana added that though some privileged Nigerians might be behind the continuous rise in dollar against Naira, but the CBN is embarking on an aggressive liquidity mop-up to enable the naira regain confidence.