CBN speaks on plans to change naira denominations

The CBN says it has no plans to change the denominations of the naira note.

  • The CBN says it will not do a redenomination of the naira notes
  • The apex bank announced this on Tuesday
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The Central Bank of Nigeria (CBN) has debunked rumours suggesting plans for the redenomination of the nation’s currency, the naira.

In an official statement released on Tuesday, the CBN’s Director of Corporate Communications, Isa AbdulMumin, said it was surprised at the viral reports.

He appealed to the public to disregard the news.

The apex bank labeled the reports as speculative and intended to create unwarranted panic within the nation.


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