Report on Naira devaluation is fake news – CBN

Contrary to a report making the rounds, Central Bank of Nigeria (CBN) on Thursday, said it has not devalued the naira to N631 per dollar at the Importers and Exporters {I&E} window.

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

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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.”