CBN has not devalued the Naira — Spokesman

Contrary to a report, the Central Bank of Nigeria (CBN) says it has not devalued the Naira to N631 per dollar at the importers and exporters’ (I&E) window.

The CBN said the report by Daily Trust that is replete with falsehoods and destabilizing innuendos, reflecting potentially willful ignorance of the said medium as to the workings of the Nigerian Foreign Exchange Market.

“The news report is replete with 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’ and 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,” a statement by the Acting Director, Corporate Communications, Dr Isa AbdulMumin, copy of which was obtained by Persecondnews, said.

“Media practitioners are advised to verify their claims from the Central Bank of Nigeria before publishing in order not to misinform the public.”