May 24, 2024

The Central Bank of Nigeria had denied devaluing naira to 630/$1. The apex bank claims the official rate as at Thursday June 1, 2023 is N465/$1.

This was made known in a statement signed by Isa AbdulMumin PhD, Ag. Director, Corporate Communications of CBN on Thursday morning, after the news of devaluing naira broke out on early hours on Thursday.

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 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”, the statement ended.

Media practitioners are advised to verify their facts from the Central Bank of Nigeria before publishing in order not to misinform the public.

Leave a Reply

Your email address will not be published. Required fields are marked *