Naira Not Devalued, Top Official In CBN Says
A top official with the Central Bank of Nigeria (CBN) has dismissed as fake a report making the rounds that the nation’s currency has been devalued.
The report indicated that the apex bank has devalued the naira to N631 per dollar at the Importers and Exporters’ (I&E) window.
Speaking on the development, the official – with deep knowledge of how CBN operates – insisted the apex bank has not taken such action.
The top shot, who warned that the falsehood could have adverse consequences for the economy, further maintained 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.”, the official clarified.
