{"id":99320,"date":"2023-10-31T22:16:34","date_gmt":"2023-10-31T21:16:34","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/no-plans-to-redenominate-naira-cbn-clarifies"},"modified":"2023-11-01T00:26:32","modified_gmt":"2023-10-31T23:26:32","slug":"no-plans-to-redenominate-naira-cbn-clarifies","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/economy\/no-plans-to-redenominate-naira-cbn-clarifies","title":{"rendered":"No plans to redenominate Naira \u2013 CBN clarifies"},"content":{"rendered":"

Africa-Press – Nigeria. <\/strong><\/span>The Central Bank of Nigeria has denied claims that it plans to redenominate the country\u2019s currency, Naira, with effect from January 2023.<\/p>\n

Isa AbdulMumin, CBN\u2019s Director of Corporate Communications, made this known on Tuesday in a statement.<\/p>\n

The reaction of the apex bank comes following a claim suggesting it plans to redenominate the country\u2019s legal tender.<\/p>\n

The Bank refuted the claim, noting that it has no plan to restructure and redenominate the Naira.<\/p>\n

\u201cThe attention of the Central Bank of Nigeria (CBN) has been drawn to the wide circulation of a text message suggesting that the Bank plans to redenominate the Country\u2019s legal tender, the Naira, with effect from January 2024.<\/p>\n

\u201cWe 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.<\/p>\n

\u201cWe wish to reiterate that the contents of the message are misleading. The authors of the message, in their mischief, modified text taken from an old policy move by a previous CBN Governor in 2007 to make it appear recent.<\/p>\n

\u201cTo avoid doubt, there is currently no plan by the Bank to restructure and redenominate the Naira. Whilst the Bank may be considering reforms, such are subject to laid down procedures in line with the provisions of the CBN Act, 2007.<\/p>\n

\u201cThe public is hereby advised to ignore the news report, as it is speculative and calculated to cause panic in the polity\u201d, the statement contained.<\/p>\n

For More News And Analysis About Nigeria<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Nigeria. The Central Bank of Nigeria has denied claims that it plans to redenominate the country\u2019s currency, Naira, with effect from January 2023. Isa AbdulMumin, CBN\u2019s Director of Corporate Communications, made this known on Tuesday in a statement. The reaction of the apex bank comes following a claim suggesting it plans to redenominate […]<\/p>\n","protected":false},"author":84,"featured_media":99319,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15],"tags":[1570,2140,1578,503,1623,254],"class_list":["post-99320","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-nigeria-2","tag-breaking","tag-cbn","tag-naira","tag-nigeria"],"yoast_head":"\nNo plans to redenominate Naira \u2013 CBN clarifies - Nigeria<\/title>\n<meta name=\"description\" content=\"The Central Bank of Nigeria has denied claims that it plans to redenominate the country\u2019s currency, Naira, with effect f ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/economy\/no-plans-to-redenominate-naira-cbn-clarifies\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"No plans to redenominate Naira \u2013 CBN clarifies\" \/>\n<meta property=\"og:description\" content=\"The Central Bank of Nigeria has denied claims that it plans to redenominate the country\u2019s currency, Naira, with effect f ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/economy\/no-plans-to-redenominate-naira-cbn-clarifies\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-31T21:16:34+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-10-31T23:26:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2023\/11\/sm_1698778322.541005.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"675\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/no-plans-to-redenominate-naira-cbn-clarifies#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/no-plans-to-redenominate-naira-cbn-clarifies\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"No plans to redenominate Naira \u2013 CBN clarifies\",\"datePublished\":\"2023-10-31T21:16:34+00:00\",\"dateModified\":\"2023-10-31T23:26:32+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/no-plans-to-redenominate-naira-cbn-clarifies\"},\"wordCount\":267,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/no-plans-to-redenominate-naira-cbn-clarifies#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2023\/11\/sm_1698778322.541005.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Nigeria\",\"breaking\",\"CBN\",\"naira\",\"Nigeria\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/economy\/no-plans-to-redenominate-naira-cbn-clarifies#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/no-plans-to-redenominate-naira-cbn-clarifies\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/no-plans-to-redenominate-naira-cbn-clarifies\",\"name\":\"No plans to redenominate Naira \u2013 CBN clarifies - 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