The Central Bank of Nigeria (CBN) has disputed claims that it will devalue forex to N1.25 per dollar.
CBN announced this on Wednesday via its official X, previously Twitter feed.
To disprove the story, the apex bank sent screenshots of the report captioned;
“Fake news” and noted that “the attached message currently circulating on social media is false and should be disregarded.”
Platinum Times remembers that on June 14, the CBN announced the floating of the Naira in the foreign exchange market in accordance with President Bola Ahmed Tinubu’s direction.
The goal was to combine the currency market windows into one; nevertheless, despite the move, the naira continued to fall against the dollar.
According to Platinum Times, the Naira exchange rate was N742.10/$1 on Tuesday, while the parallel market rate is N927/$1 today.