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CBN Refutes Reported Plan to Devalue Naira

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[caption id="attachment_8334" align="alignnone" width="692"]Central Bank of Nigeria[/caption]

The Central Bank of Nigeria (CBN) has said that there is no truth whatsoever in speculations that the naira has been devalued or that a devaluation is imminent.

This was contained in a statement issued by the Acting Director of Corporate Communications Department, Isaac Okorafor.

Okorafor who described the speculations as the handiwork of those who are bent on seeing Nigeria do their bidding, called on the public to disregard the reports.

He noted that if there are plans to devalue the naira, such information would be conveyed through an official announcement and not speculation.

He however, assured that the CBN has no plan for that as its current measures to stem the foreign exchange challenges are gradually yielding the desired results.

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