CBN denies Naira devaluation, calls news report ‘falsehoods and misleading’
The Central Bank of Nigeria (CBN) has denied a news report claiming the devaluation of the Naira to 630/$1.
This was contained in a press statement issued by the Acting Director of Corporate Communications of CBN, Isa AbdulMumin.
He described the reports as having inaccuracies and misleading implications.
“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,” AbdulMumin said.
The CBN highlighted the exchange rate at the Investors’ & Exporters’ (I&E) window, stating that it traded at N465/$1 on the morning of June 1, 2023, and has remained stable at this rate for a significant period.
“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 added.
The CBN urged media practitioners to exercise due diligence by verifying facts directly with the Central Bank of Nigeria before publishing, in order to avoid misleading the public.
