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CBN Debunks Naira Devaluation To N630 Per Dollar Report



The Central Bank of Nigeria, CBN, urged the people to disregard any reports to the contrary and insisted that it had not depreciated the naira.

This was declared in a statement headlined “CBN Has Not Devalued the Naira” by Acting Director of Corporate Communication, Dr. Isa AbdulMumin.

The Central Bank of Nigeria (CBN) has been made aware of a news article with the headline “CBN Devalues Naira To 630/31,” he stated.

“For the avoidance of doubt, the exchange rate at the Investors’ & Exporters’ (I&E) window traded this moming (June 1, 2023) at N465/US$1 and has been stable around this rate for a while.

The bank gave the public the advice to disregard the entire news article since it was speculative and intended to cause a 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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