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Central Bank Of Nigeria Denies Plans For New Naira Policy To Crash Dollar Exchange Rate
Central Bank Of Nigeria Denies Plans For New Naira Policy To Crash Dollar Exchange Rate....KINDLY READ THE FULL STORY HERE▶

The Central Bank of Nigeria (CBN) has refuted claims of its intention to implement a new naira policy aimed at devaluing the dollar exchange rate to N1.25 kobo.
A report circulated online on Wednesday had suggested that the CBN was contemplating a new foreign exchange (FX) policy scheduled for November 2023. This alleged policy was purported to enhance the stabilization of inflation expectations and facilitate smoother conversion into other major currencies.
The report also indicated that the policy was designed to counteract currency substitution tendencies and remove higher denomination notes with diminished purchasing power.
However, the CBN promptly responded to this report via its official communication channel, categorizing it as false and urging the public to disregard it.
As of Tuesday, the exchange rate stood at N742.10 to the dollar in the investors’ and exporters’ (I&E) window, which represents Nigeria’s official FX market.
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