CBN reacts to alleged naira devaluation
The Central Bank of Nigeria has refuted a report that it has devalued the Naira to N630 per dollar.
Some media outlets (The Point not inclusive) had published the report on Thursday.
Debunking and describing the report as total falsehood, the Acting Director, Corporate Communications of the apex bank, Isa AbdulMumin, in a statement issued on Thursday, noted that the value of the Naira remains N465 per a dollar.
The statement reads, “The attention of the Central Bank of Nigeria (CBN) has been drawn to a news report by Daily Trust Newspaper of June 1, 2023, titled “CBN Devalues Naira To 630/$1.
“We wish to state categorically that this news report, which in the imagination of the newspaper is exclusive, is replete with outright falsehoods and destabilizing innuendos, reflecting potentially willful ignorance of the said medium as to the workings of the Nigerian Foreign Exchange Market.
“For the avoidance of doubt, the exchange rate at the Investors & Exporters’ (I&E) window traded this morning (June 1, 2023) at 465/US$ 1 and has been stable around this rate for a while.”
The CBN, however, warned the media against publishing news reports that were capable of causing panic in the market.
“The public is hereby advised to ignore the news report by Daily Trust in its entirety, as it is speculative and calculated at causing panic in the market. Media practitioners are advised to verify their facts from the Central Bank of Nigeria before publishing in order not to misinform the public,” it stressed.
