CBN refutes claims of Naira devaluation, says $1/N465 remains

Date:

Share post:

The Central Bank of Nigeria (CBN), has debunked media report of its devaluation of naira to N631 from the rate of N461/$.

The report of the currency devaluation was earlier reported by one of the national dailies.

CBN, in a statement on Thursday, the bank’s Acting Head of Corporate Communications, Dr Isa Abdulmumin, described it as a falsehood.

“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,” he said.

The statement further adds 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 apex bank cautioned Nigerians to ignore the claims in its entirety, as it is speculative and calculated at causing panic in the market.

spot_img

Related articles

Abakaliki residents to enjoy water from Oferekpe water scheme

Oferekpe, Nigeria - Residents of the Ebonyi state capital, Abakaliki, who hitherto have lacked water, will be inundated...

War Crimes: Netanyahu, Gallant, Hamas commander issued arrest warrants

Judges at the International Criminal Court (ICC) have issued arrest warrants for Israeli Prime Minister Benjamin Netanyahu, former...

Finland Govt arrest Simon Ekpa for spreading terrorist propaganda 

The engine of crisis in the Eastern part of Nigeria and the self-acclaimed leader of the proscribed Indigenous...

President: Lawmakers reject Bill for a six-year single term

Members of the House of Representatives have rejected a bill seeking to introduce a six-year single term for...