Fake News: Naira Not Devalued – CBN

The Central Bank of Nigeria has debunked a report that it has devalued the naira to N630/$1

The bank in a press statement signed by the Apex Bank’s Ag. Director, Corporate Communications, Isa AbdulMumin describe the report of devaluation as outright falsehood and destabilizing innuendos

“The attention of the Central Bank of Nigeria (CBN) has drawn to a news report by Daily Trust of June 1 , 2023, titled “CBN Devalues Naira To 630/$1”

“We wish to state categorically that this news 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 this morning (June 1, 2023) at N465/USS1 and has stable around this rate for a while.

“The public is hereby advised to ignore the news 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.

Tunde Alade

Tunde is a political Enthusiast who loves using technology to impact his immediate community by providing accurate data and news items for the good of the country.

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