We have Not Devalued The Naira – CBN

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By Our Reporter

The Central Bank of Nigeria (CBN) has denied media reports that it has devalued the naira.

While reacting to a news report that the apex bank devalued the Naira to 630 per dollar, Isa AbdulMumin, Ag. Director, Corporate Communications in a press said: “We wish to state categorically that this 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.
“For the avoidance of doubt, the exchange rate at the Investors’ & 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.
“Media practitioners are advised to verify their facts from the Central Bank of Nigeria before publishing in order not to misinform the public.”