The Central Bank of Nigeria ( CBN) has said that it has not devalued the Naira.
In a statement by its Acting Director of Corporate Communications, Isa AbdulMumin PhD, the CBN said the report by a section of the media that the Naira has been devalued to N631/ $1 is full of falsehoods and a clear reflection potentially willful ignorance of the working of the Nigerian Foreign Exchange Market.
“The attention of the Central Bank of Nigeria (CBN) has been drawn to a news report by Daily Trust Newspaper of June 1, 2023, titled “CBN Devalues Naira To 630/$1”.
“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 statement said.
The apex bank insisted that the exchange rate at the Investors’ & Exporters’ (I&E) window traded on June 1, 2023 at N465/US$1 remains unchanged for a while.
“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,” said Abdulmumin
He therefore advised members of the public to ignore the said media report in its entirety even as he advised media practitioners to verify their fact before publishing.
“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.
Media practitioners are advised to verify their facts from the Central Bank of Nigeria before publishing in order not to misinform the public,” the spokesman advised.
