CBN
Naira Devaluation Story Is Fake, CBN Insists
The Central Bank of Nigeria (CBN) has dismissed a story in Daily Trust Newspaper of June 1, 2023, titled “CBN Devalues Naira To 630/$1”.
The CBN said the news is fake.
A statement by the Acting Director of Corporate Communications, Isa AbdulMumin, said, “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.”
The CBN stressed 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 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.”
It advised the media to verify their facts from the CBN before publishing in order not to misinform the public.