Central Bank of Nigeria Denies Naira Devaluation

Nigeria’s Apex bank, The Central Bank of Nigeria has denied reports that the Naira was furtively devalued to N290 to a dollar. The CBN additionally denied reports from securing arrangements to devalue the Naira later on. The bank’s Acting Director, Corporate Communications, Isaac Okoroafor, expressed that the naira was never downgraded further, saying the speculations are unwarranted.