Report on naira devaluation false, says CBN

By Bukola Hameed

The Central Bank of Nigeria, CBN has debunked a news report on the naira devaluation. The apex bank Thursday said the report was false.

The acting Director of Corporate Communications, Isa AbdulMumin in a statement said the Investors and Exporters window is open for verification and such claims of sale reported in the report are totally malicious and false.

“The public is hereby advised to ignore the news report as it is speculative and calculated at causing panic in the market”, it said.

In the misleading report circulating in some media, the public have been bamboozled that the Central Bank of Nigeria has devalued the naira to N631 to the dollar from N461.6.

It added that the devaluation came 48 hours after President Bola Ahmed Tinubu announced the plans of the Federal Government to unify the country’s exchange rate to stimulate the economy.