Nigeria, June 1 -- The Central Bank of Nigeria (CBN) has debunked reports that the apex bank devalued the naira to N631/$1 in an effort to unify the exchange rate.

Newspaper reports on Thursday claimed that the CBN devalued the local currency from N461.6 to N631.00 on the Importer and Exporter (I&E) market segment on Wednesday, following President Bola Tinubu's announcement of plans to unify the rates.

However, in a statement issued Thursday by the CBN's Assistant Director, Corporate Communications, Isa AbdulMumin, the bank described such reports as "falsehoods".

"We wish to state categorically that this news report, which in the imagination of the newspaper is exclusive, is replete with outright FALSEHOODS and destabilising innuendos,...