The Central Bank of Nigeria, CBN, has dismissed reports that it devalued the Naira.
Reports had earlier emerged, on Wednesday, that the CBN devalued the naira to N630 to $1 from N461.6.
However, in a tweet, via its Twitter handle on Thursday morning, CBN simply tweeted: “CBN did not devalue the Naira!”.
Also, in a statement issued Thursday by the CBN’s Assistant Director, Corporate Communications, Isa AbdulMumin, the bank described such reports as “falsehoods”.
“We wish to state categorically that this news report, which in the imagination of the newspaper is exclusive, is replete with outright FALSEHOODS and destabilising innuendos, reflecting potentially willful ignorance of the said medium as to the workings of the Nigerian Foreign Exchange Market,” the statement said.
The bank said for the avoidance of doubt, the exchange rate at the Investors’ & Exporters’ (I&E) window traded Thursday morning (June 1, 2023) at N465 per $1 and has been stable around this rate for a while, urging the public to ignore reports stating otherwise.