The Central Bank of Nigeria (CBN) has denied claims that it plans to redenominate the country’s currency with effect from January 2024.

This was disclosed in a statement by the CBN’s Director of Corporate Communications, ISA ABDULMUMIN. 

ABDULMUMIN states that there is currently no plan by the Apex Bank to restructure and redenominate the country’s legal tender.

He advised the public to ignore the news report, as it was speculative and calculated to cause panic in the polity.