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    Headline Inflation in Nigeria rose to 22.04% in March

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Home Economy

We did not devalue Naira – CBN

Thursday, 1 June 2023, 10:08 am
in Economy, Policies
0
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The Central Bank of Nigeria (CBN) has stated that it did not devlaue the Naira.

The Apex bank on its Twitter handle posted a one sentence statement refuting a report by the Daily Trust, “CBN did not devalue the Naira!”

CBN did not devalue the Naira! pic.twitter.com/GDz8uXVVwQ

— Central Bank of Nigeria (@cenbank) June 1, 2023

Investogist earlier in a report citing Daily Trust stated that the CBN has devalued the Naira at the Importers and Exporters (I&E) window to N631 to the United States dollars from N461.60.

FMDQ quoted I&E FX Closing rate as US$/N464.67 on Wednesday, and at the time of this report, there has been no quote for the opening I&E FX rate for Thursday, 1st June.

Nnamdi Maduakor
Nnamdi Maduakor

Nnamdi Maduakor is a Writer, Investor and Entrepreneur

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