CBN Debunks Report on Devaluation of naira

06/01/2023 21

The Central Bank of Nigeria has debunked the reports that it has devalued the naira.

CBN in a statement signed by Acting Director Corporate Communications, Isah AbdulMumin, said the dollar traded at N465/$1 contrary to reports.

The apex bank described the report that the CBN on Wednesday devalued the naira to N630 to $1 from N461.6 as outright falsehood and destabilising innuendos, reflecting potentially wilful ignorance of the said medium as to the working of the Nigerian Foreign Exchange Market.

Written by: Helen Obih

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