Our reporter/ The Central Bank of Nigeria (CBN) on Thursday debunked a report by a national daily that it has devalued the naira to N631 per dollar at the importers’ and exporters’ (I&E) window.
Some publications had reported that the apex bank devalued the naira, to trade at N631 to the dollar on the official window.
According to the report, the devaluation occurred 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 in a tweet on Thursday morning,
CBN said it “did not devalue the naira”.
“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,” CBN said in a statement by Isa Abdulmumin, its director of corporate communications.
“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 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.”
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