CBN speaks on devaluation of Naira to N630/$1

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

 

The Central Bank of Nigeria (CBN) has responded to rumours that it devalued the naira to approximately 630 naira per dollar.

 

One of the national dailies reported earlier on the devaluation of the currency.

 

Read Also: Senate Uncovers How MDAs Squandered N3.8trn Under Buhari

 

The bank’s Acting Head of Corporate Communications, Dr. Isa Abdulmumin, refuted the claim in a statement issued on Thursday.

 

“The news report, which in the newspaper’s mind is exclusive, is rife with blatant FALSEHOODS and destabilising innuendos, revealing the publication’s possible willful ignorance of the Nigerian Foreign Exchange Market,” he said.

 

Also Read: Fear grips Tinubu’s Legal team as PDP, Atiku’s Legal Team submits BVAS exhibits in court

 

The statement also clarifies that the exchange rate at the Investors’ & Exporters’ (I&E) window was N465/US$1 this morning (June 1, 2023) and has been stable around this rate for some time.

 

The central bank advised Nigerians to disregard the claims in their entirety because they are speculative and calculated to cause market panic.

 

Pay Attention To Bola Tinubu appoints Femi Gbajabiamila as Chief of Staff

 

Meanwhile, Femi Falana a Senior advocate of Nigeria and the Legal representative of ASUU has filed a suit against the Federal Government of Nigeria over its “no work, no pay policy” against the academic union.

 

Thanks for using our platform to learn of the latest Naija News today on CBN Refutes Claims Of Naira Devaluation, Says $1/N465 Remains