The Central Bank of Nigeria, CBN, urged the people to disregard any reports to the contrary and insisted that it had not depreciated the naira.
This was declared in a statement headlined “CBN Has Not Devalued the Naira” by Acting Director of Corporate Communication, Dr. Isa AbdulMumin.
The Central Bank of Nigeria (CBN) has been made aware of a news article with the headline “CBN Devalues Naira To 630/31,” he stated.
“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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