The Central Bank of Nigeria (CBN) has dismissed reports suggesting that it has introduced new N5,000 and N10,000 banknotes, labeling them as false.
Recent speculation claimed that the apex bank planned to roll out the high-denomination notes to enhance cash transactions, reduce cash-handling costs, and improve liquidity management. Some reports even attributed the move to a supposed Deputy Governor, Dr. Ibrahim Tahir Jr., and suggested that the notes would be released on May 1, 2025.
However, in a post on its official X (formerly Twitter) account, the CBN categorically denied the claims.
“This content is NOT from the Central Bank of Nigeria. Kindly note that the official website of the CBN is cbn.gov.ng,” the statement read.
The bank urged the public to disregard the misinformation and rely on its official communication channels for accurate updates.
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