There had been a rumour circulating on social media that the apex bank was planning to redenominate the nation’s currency.
However, the statement posted on the CBN’s X page 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 eked from an old policy move by a previous CBN Governor in 2007 to make it appear recent.
“The public is hereby advised to ignore the news report, as it is speculative and calculated to cause panic in the polity.”
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