Tag: Devalue

CBN speaks on devaluing Naira to 630/one dollar

Jun 1, 2023

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by

Bayo Millz

in News

The Central Bank of Nigeria (CBN) has dispelled rumours that it devalued the Naira, describing the news as fake. The CBN made the denial on Thursday in a statement by Isa AbdulMumin, CBN Acting Director,
CBN bows to pressure, technically devalues Naira by 15%

Mar 20, 2020

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by

Olaotan Falade

in Business News, Nigeria, Top Story, Trending

The Central Bank of Nigeria (CBN) may have finally bowed to immense pressure from various quarters to devalue the Naira. Few days ago, there were speculations that the central bank would devalue the local currency, following crash in the prices of crude oil at the global market and steep decline in the foreign reserves. This…