CBN Sends Message to Nigerians over New Policy on Dollar to Naira Exchange

The Central Bank of Nigeria has responded to reports regarding a fresh foreign exchange market policy. Since the new administration assumed office, the apex bank has implemented several measures to ensure the accurate valuation of the naira against the dollar and other currencies. Notably, in the official market, the naira’s value against the United States dollar appreciated subsequent to the CBN injecting more forex into the market.

Dismissing the circulating speculations, the Central Bank of Nigeria (CBN) has clarified that it has not enacted any new policy actions within the foreign exchange market.

In a statement posted on its official social media handle, previously known as Twitter, the CBN categorized these rumors as outdated. The apex bank clarified that the attached images, which were originally released on February 20th, 2017, should be dismissed.

The CBN’s statement reads: “We wish to draw your attention to the fact that the images being circulated on social media are sourced from an antiquated Press Release dated February 20th, 2017. Kindly ignore them.”