CBN Refutes Claims Of Naira Devaluation, Says $1/N465 Remains…

Written by on June 1, 2023

The Central Bank of Nigeria (CBN) has reacted to reports claiming that it has devalued the naira to about 630 naira to a dollar.

However, in statement on Thursday, the bank’s Acting Head of Corporate Communications, Dr Isa Abdulmumin, described it as falsehood.

The statement further adds that 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 apex bank cautioned Nigerians to ignore the claims in its entirety, as it is speculative and calculated at causing panic in the market.

Reader's opinions

Leave a Reply

Your email address will not be published. Required fields are marked *

Current track