The Central Bank of Nigeria has clarified reports that it secretly devalued the Naira.
Sahara Reporters had reported that the naira, on Friday, crashed to N290/dollar as against the official rate of N196/dollar on the website of the CBN, as the federal government secretly carried out the devaluation process.
Isaac Okoraofor, the acting director of the company’s corporate communication department, described the speculations as the handiwork of those bent on seeing Nigeria do official work on the social media.
Although he noted that the CBN has no plans for the devaluation as is being widely speculated, Okoroafor stated that the bank would make an official announcement if it ever changes its mind on the devaluation.
He explained further that its current measures to stem the foreign exchange challenges are gradually yielding the desired results and has therefore, called on the public to disregard the reports on the speculations.