Central Bank of Nigeria Dismisses Redenomination Claims for the Naira | Nigeria Tonight | 31-10-23
· 01.11.2023 · 02:49:20 ··· ··· Wednesday ·· 3 (3)
News Central TV Host: Dapo Adegboye
Guest: Dr. Muda Yusuf, CEO, Centre for the Promotion of Private Enterprise, Lagos, Nigeria
The Central Bank of Nigeria (CBN) has categorically dismissed claims suggesting its intention to redenominate the nation's currency, the Naira, with effect from January 2023. This response from the apex bank comes in light of recent assertions that indicated such plans were in motion, which the CBN vehemently refutes.
In a strong statement, the CBN clarified that it harbours no intentions to restructure and redenominate the Naira, contrary to the claims circulating in various quarters. The CBN remains committed to maintaining stability and ensuring the seamless operation of Nigeria's financial system.
The bank went on to explain that the alleged text message making these redenomination claims was, in fact, an altered version of a text message from a former CBN Governor in 2007. This manipulation was orchestrated to appear as if it were a recent development, a misleading tactic that the CBN vehemently disapproves of.
Furthermore, the CBN affirmed its commitment to adhering to the provisions outlined in the CBN Act of 2007 with regard to any currency or monetary reforms. The CBN urged the public to disregard any misleading publications and unwarranted claims, as they are designed to induce unnecessary panic and confusion.
The CBN remains focused on its mission to ensure financial stability and foster economic growth in Nigeria, emphasising that any future decisions and reforms will be taken in accordance with the prevailing laws and regulatory framework.
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Central Bank of Nigeria Dismisses Redenomination Claims for the Naira | Nigeria Tonight | 31-10-23
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