The Central Bank of Nigeria (CBN) on Thursday debunked claims that it has devalued the naira to about N630 to a dollar, noting that the report is fake.
The regulatory bank’s Acting Head of Corporate Communications, Isa Abdulmumin in a statement sent to Global Financial Digest, said the report “is replete with outright falsehoods and destabilizing innuendos.”
The newspaper published a report stating that the naira was devalued by the CBN to N630 to the dollar.
But the regulatory bank said the report was the imagination of the writer, which did not align with reality on the ground.
“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,” he said.
He continued; “We wish to state categorically that this 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.
“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 public is hereby advised to ignore the news report by the Daily Trust in its entirety, as it is speculative and calculated to cause panic in the market.”
Meanwhile the local currency, the naira traded at N772 to the dollar on the parallel market, appreciating from N780 to the dollar the previous day.
Traders attributed the gain in naira at the parallel market to the report of a hike in the pump prices of petrol by the state-owned energy firm, NNPC Limited.
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