The Central Bank of Nigeria, CBN, has denied that it has devalued the Naira.
Earlier, it was reported that the CBN devalued the Naira to N631 to the dollar, up from N461.60 the previous day at the Importers and Exporters (I&E) window.
CBN, on the other hand, simply tweeted on Thursday morning via its Twitter handle: “CBN did not devalue the Naira!”
The reported devaluation comes just 48 hours after President Bola Tinubu announced the federal government’s plans to unify Nigeria’s exchange rate in order to stimulate the country’s ailing economy.
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Remember that the President stated in his inaugural address that “Monetary policy requires a thorough house cleaning.”
Tinubu met with CBN Governor Godwin Emefiele at the presidential villa on Tuesday in response to the development.
The meeting was thought to have discussed the exchange rate and the removal of the petrol subsidy.
