NIGERIA- Central Bank of Nigeria (CBN) in a recent statement has reacted to reports claiming that it has devalued the naira to about 630 naira to a dollar.
According to the report of the currency, the devaluation was earlier reported by one of the country’s national dailies.
However, in the 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.
CBN Has Not Devalued The Naira pic.twitter.com/O9DCB4lQYj
— Central Bank of Nigeria (@cenbank) June 1, 2023
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 claims in its entirety, as it is speculative and calculated at causing panic in the market.
