N630 to $1: Outright FALSEHOODS- CBN Denies Devaluation
The Central Bank of Nigeria, CBN has denied the news report that says it has devalued the naira urging the public to dismiss the report.
In a statement titled, “CBN Has Not Devalued the Naira”, Acting Director, Corporate Communication, Dr. Isa AbdulMumin noted that the CBN is aware of the news reports that hold a negative view of the devaluation of the naira and it is nothing but “FALSEHOODS”.
The statement read:
“The attention of the Central Bank of Nigeria (CBN) has been drawn to a news report… titled “CBN Devalues Naira To N630/$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’ & Exporters’ (I&E) window traded this moming (June 1, 2023) at N465/US$1 and has been stable around this rate for a while.
“The bank advised the public to ignore the news report in its entirety, saying it’s 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.”
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