We Have Not Devalued The Naira- CBN
Oru Leonard
The Central Bank of Nigeria (CBN), has said denied devaluation of the naira as report by Daily Trust Newspaper of June 1, 2023, titled “CBN Devalues Naira To 630/$1”.
In a press release signed by the CBNs Ag Director of Corporate Communications, Dr. Isa AbdulMumin the apex stated in part, “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.”
CBN noted that 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 that rate for a while.
CBN therefore advised the public 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”, Isa concluded.
