The Central Bank of Nigeria (CBN) has debunked reports making the rounds that the apex bank devalued the naira to N630 to the dollar from N461.6.
The apex bank made this known via a statement issued on Thursday, June 1, 2023, by the acting Director, Corporate Communications, CBN, Isa AbdulMumin.
The statement read: “The attention of the Central Bank of Nigeria (CBN) has been drawn to a news report by Daily Trust Newspaper on 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’ and 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 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,” AbdulMumin stated.
