We provide Instant breaking news alerts and information about the day's most talked-about stories around Nigeria, Africa and the world trending news.
CBN dismisses reports of naira devaluation, says $1/N465 remains
The Central Bank of Nigeria (CBN) has dismissed reports claiming that the apex bank has devalued the naira to about 630 naira to a dollar.
The report on the currency devaluation was earlier made by one of the national dailies and circulated by others.
Related Posts
However, in a statement on Thursday, the bank’s Acting Head of Corporate Communications, Dr Isa Abdulmumin, described it as a falsehood.
“The news report, which in the imagination of the newspaper is exclusive, is replete with outright FALSEHOODS and destabilizing innuendos, reflecting potentially willful ignorance of the said medium as to the workings of the Nigerian Foreign Exchange Market,” he said.
The statement further adds that for the avoidance of doubt, the exchange rate at the Investors’ & Exporters’ (I&E) window traded this morning (June 1, 2023) at N465/US$1 and has been stable around this rate for a while.
The apex bank cautioned Nigerians to ignore the claim in its entirety, as it is speculative and calculated at causing panic in the market.
