Connect with us

    Hi, what are you looking for?

    News

    News of Naira Devaluation is Fake – says CBN

    CBN

    Central Bank of Nigeria (CBN) has debunked a report by a national daily that it has devalued the naira to N631 per dollar at the Importers and Exporters’ (I&E) window.

    A top official of the apex bank, who told this medium that the report is completely false , warned that such reports could have serious adverse consequences for the economy.

    According to the top official, the CBN has not changed its strategy of allowing a gradual convergence of the parallel and official market exchange rates.

    “The report is not true. The CBN has not devalued the naira. The exchange rate of the naira on the FMDQ website as at yesterday was N464.67 per dollar.

    The authors of the report may have their own agenda, but the CBN’s plan is that the best approach is to allow for a gradual convergence of all the rates.”

    Loading

    Spread the love
    Click to comment

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    ad

    You May Also Like

    News

    Nigerian billionaire and Senator, Ned Nwoko, has refuted the recent viral claims of domestic violence made by his wife, actress Regina Daniels. In a...

    News

    TD Africa, leading technology solutions aggregator in Sub-Saharan Africa, has officially announced the onboarding of Zinox Technologies into its basket of global brands. This...

    News

    Ukrainian President Volodymyr Zelensky has proposed a potential exchange of Ukrainian-made drones for U.S. Tomahawk cruise missiles during a meeting with President Donald Trump...

    Tech

    Kashifu Inuwa Abdullahi, CCIE, Director General, National Information Technology Development Agency (NITDA), has reaffirmed Nigeria’s commitment to leveraging Artificial Intelligence (AI) for national development,...