The Central Bank of Nigeria (CBN) has issued a press release today to dismiss recent claims made by the Daily Trust newspaper suggesting that the CBN had devalued the naira to 630/$. The CBN firmly stated that these allegations are entirely baseless and filled with false information that aims to create instability and panic in the market.
In the press release, the CBN emphasized that the exchange rate at the investors and exporters window has remained stable at 465/$ for a considerable period of time. This fact directly contradicts the claims made by the Daily Trust. The CBN further advised the public to completely disregard the news report as it is speculative and lacks credibility.
Expressing their concern, the CBN urged media practitioners to exercise responsible journalism by verifying their facts directly with the central bank before publishing. This precautionary measure ensures accurate reporting and prevents the dissemination of misleading information that could misinform the public.
The CBN emphasized its commitment to maintaining a stable foreign exchange market and warned against spreading false narratives that could potentially harm the Nigerian economy. The CBN encourages the public to rely on official announcements and information from trusted sources, such as the central bank itself, to stay informed about the state of the Nigerian foreign exchange market.
It is essential for the public to remain calm and not succumb to unnecessary panic caused by unverified news reports. The CBN reaffirms its dedication to transparency and will continue to work towards the economic stability and growth of Nigeria.
