Devaluation of Naira: CBN Debunks News Calling It Fake

The Central Bank has come out to debunk the news circulating that it has devalued the naira.

A statement signed by the Acting Director Corporate Communications, Isah AbdulMumin, said that the dollar traded at N465/$1 contrary to reports.

The statement reads, “We wish to state categorically that this news report, which in the imagination of the newspaper is exclusive, is replete with outright falsehood and destabilizing innuendos, reflecting potentially wilful ignorance of the said medium as to the working of the Nigerian Foreign Exchange Market.

“For the avoidance of doubt, the exchange rate at the Investors’& Exporters’(I&E) window, which traded this morning (June 1, 2023) at N465/US$1 and has been stable around this rate for a while.”

Also, a tweet by the official handle of the CBN on Thursday morning said, ” CBN did not devalue the naira.”