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CBN denies devaluing Naira
  • June 1, 2023
  • Unity Times

The Central Bank of Nigeria (CBN) on Thursday denied a report that it devalued the Naira to N631 to the dollar.

CBN tweeted a graphical image with “fake news” to debunk a report by Daily Trust suggesting that it devalued the Naira.

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Daily Trust reported that at the resumption of the weekly bidding for foreign exchange, the CBN sold the spot rate to banks on behalf of their customers at N631 to a dollar.

The devaluation, according to the report, comes within 24 hours after the dollar had sold for N461.6 at the Importers and Exporters (I&E) window on Tuesday. CBN said it’s fake news.

President Bola Tinubu on Wednesday met with the Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, at the presidential villa.

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