Nigerian publication Daily Trust has criticized the Central Bank of Nigeria (CBN) for refusing to publish an article on its cover for Thursday, June 1, 2023.
The previous day, the Naira was sold at the Importers and Exporters (I&E) window for N461.6, but the apex bank devalued it to N631 to the dollar, according to a media article.
The newspaper was informed by a few bank clients that they had applied and that their request had been fully approved at N631 as opposed to N461.6.
On the other side, the CBN published a stamp that said, “Fake News,” on Twitter.
The CBN had released a statement that said, “We wish to state categorically that this news report, which in the newspaper’s imagination is exclusive, is replete with outright FALSEHOODS and destabilizing innuendos, reflecting potentially willful ignorance of the said medium as to the workings of the Nigerian Foreign Exchange Market.”
In response, Daily Trust issued a statement on Thursday night claiming to have proof of those who purchased dollars at the stated rate and putting the CBN to the test to prove otherwise.
“We have reported in our newspaper and on our digital platforms today that the Central Bank of Nigeria (CBN) sold dollars to bidders at the Importers and Exporters (I&E) window yesterday, May 31, 2023, at a rate of N631 per $1.”
“There are three facts and one interpretation in this story: yesterday, President Bola Ahmed Tinubu met with CBN Governor Godwin Emefiele upon taking office; yesterday, the CBN sold dollars to banks on behalf of their clients at the stated rate on the stipulated window. We stand by each and every one of these facts.
“The significant difference of N169.4 between the two rates in a single day can only be rationally explained by a policy shift implemented by the government through the CBN. And whatever name it goes by, only the CBN has the authority to do that over night.
As a result of the aforementioned, we would like to state again that we stand by the details of our account. We defy the CBN to produce any evidence to the contrary, as we have proof of individuals who purchased the dollar at the stated rate.
Lastly, as the CBN is well aware, we would like to restate that we are not a false news outlet. We have produced some of Nigeria’s best and most influential public interest journalism in the last 25 years.
“In Nigerian journalism, our editor is the current Editor of the Year. Only in December of last year did our reporter win Investigative Reporter of the Year. We have been recognized for our professional and dignified journalism with awards even in the last month.
“We Have Evidence” – Daily Trust Fires CBN Regarding Naira Devaluation
Nigerian publication Daily Trust has criticized the Central Bank of Nigeria (CBN) for refusing to publish an article on its cover for Thursday, June 1, 2023.
The previous day, the Naira was sold at the Importers and Exporters (I&E) window for N461.6, but the apex bank devalued it to N631 to the dollar, according to a media article.
The newspaper was informed by a few bank clients that they had applied and that their request had been fully approved at N631 as opposed to N461.6.
On the other side, the CBN published a stamp that said, “Fake News,” on Twitter.
