Daily Trust newspaper has stood by its story on devaluation of Naira maintaining that the Centra Bank of Nigeria (CBN) sold dollars to bidders at the Importers and Exporters (I & E) window at the rate of N631 per $1 as at May 31.
In a public notice issued by the organization and signed by the management, it said the story contained three facts and one interpretation that the CBN sold dollars to banks on behalf of their customers at the said rate on the said window on May 31, that President Bola Ahmed Tinubu had spoken of his government’s resolve to unify Nigeria’s exchange rate markets, and that he met with CBN Governor Godwin Emefiele on assumption of office Tuesday.
It pointed out that “only a policy change by the government through CBN can reasonably explain the wide difference of N169.4 between the two rates in just a single day, adding only CBN has power to do that overnight, regardless by what name it is called.”
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“From the fore-going, therefore we wish to reiterate that we stand by the facts of our story. We have evidence of those who bought the dollar at the reported rate, and we challenge the CBN to provide any facts to the contrary,” it claimed.
Following the news on the devaluation of Naira May 1, the CBN had denied the allegation, saying it had not devalued the Naira, urging the public to dismiss any contrary report.
According to the Acting Director, Corporate Communication of CBN, Dr. Isa AbdulMumin, the “report was replete with outright falsehoods and destabilizing innuendos, reflecting potentially wilful ignorance of the said medium as to the workings of the Nigerian Foreign Exchange Market.”
“For the avoidance of doubt, the exchange rate of the Investor & Exporters’ (I & E) window traded this morning (June 1, 2023) at N465/ US$1 and has been stable around this rate for a while,” said CBN.
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