Contrary to stories that made the news since yesterday, the Central Bank of Nigeria has denied devaluation of the Nigerian Naira. This was made known in a press release made available to Inspiration 105.9 FM, signed by the Acting Director Corporate Communications, Isa Abdulmumin.

The Apex bank described the report as the product of the News writers imaginations, replete with falsehoods and destabilizing innuendoes, showing the Ignorance of those who concocted the said report.

The CBN restated the exchange rate of N465/US$1 at the investors and Exporters window as at June 1, 2023, and asked the general public to disregard the story as it could cause some panic in the money market.