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CBN refute claims on naira devaluation

The Central Bank of Nigeria (CBN), says it has not devalued the naira, contrary to news making round the media of a big fall in the value of the currency.

Nigerian newspapers and websites reported on Thursday that the central bank had devalued the currency to N630 per dollar from N466.50 at the close of the previous session.

In a statement, the bank’s Acting Head of Corporate Communications, Dr Isa Abdulmumin, described it as falsehood and urged the public to disregard the claim that it is speculative and calculated towards causing panic.

President Bola Tinubu on Wednesday met with the Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, Group Managing Director of the Nigeria National Petroleum Corporation Limited (NNPCL), Melee Kyari and other stakeholders at the presidential villa.

At the end of the meeting, Emefiele left without addressing the media, but Kyari spoke to the press on fuel subsidy.

In his inaugural address, Tinubu had charged the Central Bank to work towards a unified exchange rate.

Writing Hadiza Abdulrahman; Editing by Julian Osamoto