Nigeria’s apex bank – the Central Bank of Nigeria (CBN) has reacted to reports claiming that it has devalued the naira to about N630 to a dollar.
The report of the currency devaluation was earlier reported by one of the national dailies.
But, in s statement issued on Thursday by the bank’s Acting Head of Corporate Communications, Dr. Isa Abdulmumin, described the report as falsehood.
The statement read, “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”.
It added 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 CBN, however, cautioned Nigerians to ignore the claims in their entirety, saying it is speculative and calculated at causing panic in the market.
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