By Ogochukwu Isioma
The Central Bank of Nigeria (CBN) has denied reports that the apex bank has devalued the Naira to N631 to the dollar from N461.6.
On Thursday, an online medium (Not METROWATCH), claimed that the CBN had devalued Naira to N631/$ dollar from N461.6 it sold at the Importers and Exporters (I&E) window the previous day.
The report claimed the devaluation came 48 hours after President Bola Ahmed Tinubu announced the plans of the federal government to unify the country’s exchange rate to stimulate the economy.
But, the CBN in a statement issued by Isa AbdulMumin, Acting Director, Corporate Communications, on Thursday, called on the public to ignore the news story as the report was not true.
The statement read, “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.
“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.”
AbdulMumin advised media practitioners to verify their facts from the Central Bank of Nigeria (CBN) before publishing in order not to misinform the public.