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CBN Denies Devaluing Naira

The Central Bank of Nigeria (CBN) has denied  reports of the devaluation of the naira against the US dollar.

In a Twitter post on Thursday morning, the CBN branded the report from a national daily as fake news.

The publication reported that the naira was devalued to N631 to the dollar from N461.6 at the Importers and Exporters (I&E) window.

The news report mentioned that the apex bank sold the spot rate to banks on behalf of their customers at N631 to a dollar at the resumption of the weekly bidding for foreign exchange, and that most bidders got the full amount they requested.


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