The Central Bank of Nigeria has said that the purported report that it has devalued the Naira to N630/$1 is fake.
In a press release signed by the Acting Director, Corporate Communications of the Bank, Isa AbdulMumin, CBN said the report is outright falsehood reflecting a willful ignorance of the medium that published it.
AbdulMumin stated that the 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 morning (June 1, 2023) at N465/USS1 and has been stable around this rate for a while,” AbdulMumin said.
While advising media practitioners to verify their facts from the Central Bank of Nigeria before publishing in order not to misinform the public, AbdulMumin said the news report by Daily Trust should be ignored in its entirety, as it is speculative and calculated at causing panic in the market.