The Central Bank of Nigeria (CBN) has temporarily withdrawn its 2024 Monetary, Credit, Foreign Trade, and Exchange Policy Guidelines publication due to widespread misinterpretation.
In a statement, the apex bank clarified that the document was a compilation of existing policies and guidelines issued up to December 31, 2023, and not new directives.
“The CBN wishes to emphasize that the publication is a record of previously issued policies, circulars, and directives, and not new policy statements,” the statement read.
The bank attributed the misrepresentation to certain media outlets, citing examples such as the Cyber Security Levy, which was suspended in May 2024.
To avoid further misrepresentation, the CBN has temporarily withdrawn the document and urged stakeholders to seek clarification before publishing.
“The bank will continue to provide clear monetary policy direction and advice for the overall good of the economy,” the statement concluded.
