The Central Bank of Nigeria (CBN) has denied a media report titled: “CBN Devalues Naira To 630/$1”.
A statement today from the Ag. Director, Corporate Communications, Dr. Isa AbdulMumin, reads: “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 wilful 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 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.”
He concluded by urging media practitioners “to verify their facts from the Central Bank of Nigeria before publishing in order not to misinform the public.”
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.
