Alleged Naira Devaluation: It’s a lie, CBN reacts, says $1/N465 remains
The Central Bank of Nigeria (CBN) has responded to recent claims suggesting that it has devalued the naira to approximately 630 naira per dollar.
Telescope.ng gathered that these reports were initially published by one of the national newspapers.
Reacting to the claim, Isa Abdulmumin, the Acting Head of Corporate Communications at the bank, issued a statement on Thursday categorizing these claims as completely false.
Abdulmumin expressed his disappointment with the news report, emphasizing that it contained numerous falsehoods and misleading insinuations.
He believed that the newspaper had demonstrated a profound lack of understanding regarding the functioning of the Nigerian Foreign Exchange Market.
In light of the statement made by the CBN’s Acting Head of Corporate Communications, it can be inferred that the reports of naira devaluation to 630 naira per dollar were baseless and unfounded.
The CBN remains committed to maintaining stability in the foreign exchange market and upholding the integrity of the Nigerian currency.
He said: “The 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.”
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