The Central Bank of Nigeria (CBN) has refuted trending news that it had devalued the naira to about 630 naira to a dollar.<\/p>\n\n\n\n
The report of the currency devaluation was earlier reported by one of the national dailies.<\/p>\n\n\n\n
However, in statement on Thursday, the bank\u2019s Acting Head of Corporate Communications, Dr Isa Abdulmumin, described it as falsehood.<\/p>\n\n\n\n
\u201cThe 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,\u201d he said.<\/p>\n\n\n\n
The statement further adds that for the avoidance of doubt, the exchange rate at the Investors\u2019 & Exporters\u2019 (I&E) window traded this morning (June 1, 2023) at N465\/US$1 and has been stable around this rate for a while.<\/p>\n\n\n\n
The apex bank cautioned Nigerians to ignore the claims in its entirety, as it is speculative and calculated at causing panic in the market.<\/p>\n\n\n","protected":false},"excerpt":{"rendered":"
The Central Bank of Nigeria (CBN) has refuted trending news that it had devalued the naira to about 630 naira to a dollar. The report of the currency devaluation was earlier reported by one of the national dailies. However, in statement on Thursday, the bank\u2019s Acting Head of Corporate Communications, Dr Isa Abdulmumin, described it […]<\/p>\n","protected":false},"author":2,"featured_media":50643,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[949,125],"tags":[1013,191],"class_list":["post-50642","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-finance-money","tag-devaluation","tag-naira","has-post-title","has-post-date","has-post-category","has-post-tag","has-post-comment","has-post-author",""],"yoast_head":"\n