The Central Bank of Nigeria (CBN) has dismissed rumours suggesting any plans for the redenomination of the Naira, set to take effect from January 2023.
The response from the CBN comes in light of an assertion implying its intention to redenominate the nation’s official currency.
The statement reads: “The attention of the Central Bank of Nigeria has been drawn to the wide circulation of a text message suggesting that the Bank plans to redenominate the Country’s legal tender, the Naira, with effect from January 2024. “We wish to reiterate that the contents of the message are misleading. The authors of the message, in their mischief, modified text taken from an old policy move by a previous CBN Governor in 2007 to make it appear recent.
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