The Central Bank of Nigeria (CBN) has debunked reports that the apex bank devalued the naira to N631/$1 in an effort to unify the exchange rate.
Newspaper reports on Thursday claimed that the CBN devalued the local currency from N461.6 to N631.00 on the Importer and Exporter (I&E) market segment on Wednesday, following President Bola Tinubu’s announcement of plans to unify the rates.
However, in a statement issued Thursday by the CBN’s Assistant Director, Corporate Communications, Isa AbdulMumin, the bank described such reports as “falsehoods”.
