Boluwatife Adedokun

The Central Bank of Nigeria (CBN) has debunked the news published by Daily Trust  that Naira has been devalued to $630/per naira.

This was made known in a statement that was signed by Isa AbdulMumin, Ag. Director Corporate Communications and released on their Twitter handle this morning.

The Apex bank reiterated that the news contains falsehood and destabilizing innuendos, stating that it shows the ignorance of the media.

The statement reads, “The attention of the Central Bank of Nigeria (CBN) has been drawn to a news report by Daily Trust Newspaper of June 1, 2023 titled ‘CBN Devalues Naira to 630/1$.

“We wish to state categorically that this 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 the workings of the Nigerian Foreign Exchange Market.

For the avoidance of doubt, the exchange rate at the investors and Exporters (I&E) traded this morning (June 1, 2023) at #465/US$1 and has been stable around this rate for a while.

“The public is therefore 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”

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