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CBN clears air on controversial dollar crash on Google, affirms stability of naira

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The Central Bank of Nigeria (CBN) on Friday evening cleared the air on the magical fall of the United States Dollars against Nigeria’s naira.

Checks by TNG on google on Friday night, showed the naira gaining grounds from N362 to a dollar to N184 to a dollar.

Further checks by TNG an hour later on the popular search engine placed the naira at N54 to a dollar.

Speaking in an exclusive interview with TNG on Friday night, the acting Director, Corporate Communications of the apex bank, Isaac Okoroafor said the mix up was from Google and expressed hope that the tech giant would fix it soon.

Okoroafor noted that the official exchange rate of the naira to the dollar stands at N306.8 as at Friday evening.

“I’ve received countless number of calls on this same issue. Its obviously a technical itch on the part of Google and I’m sure they will rectify it soonest. The rates have not changed. Please tell Nigerians to dispel the confusion. We sort it soon,’ the CBN spokesman told TNG on Friday night.

The Nigerian currency on Friday gained N1 to close at N358 to the dollar at the parallel market in Lagos.

TNG reports that the naira traded stronger on the eve of elections than Thursday when it closed at N359 to a dollar.

The Pound Sterling was sold at N470 and the Euro at N408.

At the Bureau De Change (BDC) segment, the naira traded at N360 to the dollar, while the Pound Sterling and the Euro closed at N470 and N408.

UBA Wise savers

Trading at the investors window saw the naira closing at N361.49 to the dollar as market turnover stood at 292.34 million dollars.

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