CBN Debunks Reports On Devaluation Of Naira
The Central Bank of Nigeria (CBN) has reacted to a newspaper report of June 1, 2023 that the Apex Bank has devalued the Naira to N630 for one United States of America Dollar, describing it as falsehood.
The Bank’s reaction was contained in a statement signed by its Ag. Director, Corporate Communications, Dr. Isa AbdulMumin
“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,” the statement stated.
For the avoidance of doubt, the statement added, 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 in the statement 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.”
The statement also advised media practitioners “to verify their facts from the Central Bank of Nigeria before publishing in order not to misinform the public.”
