The Central Bank of Nigeria has issued a statement refuting any plans to redenominate the country’s currency scheduled for January 2024.
This clarification comes as a response to widespread text messages falsely suggesting the impending redenomination of Nigeria’s legal tender, the naira.
In a statement signed by its Director of Corporate Communication, Isa AbdulMumin, the central bank emphasized that the text messages indicating the redenomination did not originate from the bank.
They expressed concern over the traction gained by this false narrative, leading to various debates on its potential impact on the Nigerian economy.
Furthermore, the bank revealed that the misleading text message was, in fact, a modification of a text from a previous CBN Governor in 2007, designed to make it appear as recent news.
The bank encouraged the public to rely on official communications for accurate and up-to-date information regarding monetary policies and financial matters.
