Despite the naira's difficulties, CBN does not intend to redenominate it

According to the CBN, the false news item is intended to spread fear throughout the nation.The naira, which is Nigeria's legal cash, is not going to be redenominate , according to the Central Bank of Nigeria (CBN).Isa AbdulMumim, Director of CBN's Corporate Communications Department, revealed this in a statement on Tuesday in Abuja. According to the News Agency of Nigeria (NAN), there was a circulating social media message on the apex bank's intention to redenominate the naira by removing the two zeros from the denomination. As far as AbdulMumim is concerned, the message is false.The central bank of Nigeria (CBN) has been alerted to the widespread dissemination of a text message indicating that it intends to rename the naira, the nation's legal cash, effective January 2024.