Abuja, Oct. 31, 2023 -The Central Bank of Nigeria (CBN) says it has no plan to redenominate the naira in January 2024.
The CBN said this on Tuesday in a statement issued by Isa AbdulMumin, its Director of Corporate Communication, and posted on its X, formerly Twitter, handle.
The bank said the purported text messages that it intended to redenominate the naira did not originate from it.
“The attention of the Central Bank of Nigeria to the wide circulation of text messages suggesting that the bank plans to redenominate the country’s legal tender, the naira from January 2024.
“We are concerned that this narrative which we have refuted before, now appears to be gaining traction with several debates on the implication of such a policy on the Nigerian economy.” (GBN)
