THE Central Bank of Nigeria (CBN), under the leadership of Governor Godwin Emefiele, has debunked the viral media reports it has devalued the naira and increased the dollar rate to N630/$1.
According to media reports, in a statement on Thursday, June 1, 2023, CBN’s Acting Director of Corporate Communications, Isa AbdulMumin, described the report as false and misleading and should be disregarded.
The statement reads: “The attention of the Central Bank of Nigeria (CBN) has been drawn to a news report by the Daily Trust newspaper of June 1, 2023, titled, ‘CBN Devalues Naira To 630/$1.’
“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 wilful ignorance of the said medium as to the workings of the Nigerian Foreign Exchange Market.
“Media practitioners are advised to verify their facts from the Central Bank of Nigeria before publishing in order not to misinform the public.”
Meanwhile, the Apex Bank said the exchange rate at the Investors & Exporters (I&E) window traded this morning, June 1, 2023, at N465/US$1 and had been stable around this rate for a while.
The regulatory authority then urged the public to ignore the news report, as it was speculative and calculated to cause panic in the market.
ICIR
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