• Wednesday, June 12, 2024
businessday logo


CBN to come up with correct position as naira reportedly devalues to N630

Cash is fuel; Profit is king!

The Central Bank of Nigeria (CBN) on Thursday said it is coming up with the correct position as reports said the apex bank has devalued naira to N630 per dollar.

Isa AbdulMumin, the CBN’s acting director, corporate communications, who said this by a phone call said there is nothing official about it for now.

“Meanwhile, we will come up with the correct position later,” he said.

A report from Daily Trust said the CBN has devalued the naira to N631 from N461.6 to the dollar.

The figure on the CBN’s website shows N461.6 per dollar as of May 30, 2023.