Naira notes
Just in: No plans to change naira again, says CBN
The Central Bank of Nigeria on Tuesday denied claims that it planned to redenominate the naira with effect from January 2024.
A statement by the CBN’s Director of Corporate Communications, Isa AbdulMumin, dismissed the report as a rumour aimed at causing panic.
“We are concerned that this narrative, which we had refuted before now, appears to be gaining traction with several debates on the implication of such a policy for the Nigerian economy,” the statement said.
It also stated, “We wish to reiterate that the contents of the message are misleading. The authors of the message, in their mischief, modified text eked from an old policy move by a previous CBN Governor in 2007 to make it appear recent.
“For the avoidance of doubt, there is currently no plan by the Bank to restructure and redenominate the naira. “The public is hereby advised to ignore the news report, as it is speculative and calculated to cause panic in the polity.”
In 2022, the apex bank redesigned the N200, N500 and N1000 notes.
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