APA – Lagos (Nigeria)
The Central Bank of Nigeria (CBN) has urged Nigerians to ignore the report that the country’s currency, the Naira, has been devalued.
In a statement issued on Thursday in Abuja by the apex bank’s Acting Director, Corporate Communication, Dr. Isa AbdulMumin, the central bank stated that the exchange rate at the Investors’ and Exports’ window traded, as at the time of the report, (Thursday, June 1, 2023) at N465 to $1 and “has been stable around this rate for a while”.
It warned that the devaluation report was speculative and calculated at causing panic in the market.
AbdulMumin advised journalists to always verify their facts from the CBN before publishing in order not to misinform the public.
It will be recalled that the local newspaper on Thursday reported that the central bank has devalued the Naira from N4616/$1 to N631/$1 barely 48 hours after Nigeria’s new President, Chief Bola Ahmed Tinubu, announced plan to unify the country’s exchange rate windows to stimulate the economy.
GIK/APA