CBN Refutes Claims Of Introducing ₦5,000, ₦10,000 Notes

(AFRICAN EXAMINER) – The Central Bank of Nigeria (CBN) on  Thursday refuted claims that it has introduced ₦5,000 and ₦10,000 banknotes, saying the reports circulating are false.

In a statement on its official handle on X (formerly Twitter), the apex bank disclosed that the viral circular is “fake” and tasked Nigerians to stick to its official communication channels for accurate information.

“The content is not from the Central Bank of Nigeria. Kindly note that the official website of the CBN is cbn.gov.ng,” the bank stated, as it reassures Nigerians on its commitment to transparency.

The African Examiner writes that the false document, which started to gain prominence on WhatsApp, alleged that the new denominations were set for circulation from May 1.

It also falsely stated that a Deputy CBN Governor, Dr. Ibrahim Tahir Jr, was in charge of the operation claiming that the new notes were introduced to improve liquidity management and reduce cash-handling costs.

This will not be the first time the CBN has had to talk to Nigerians regarding currency issues. In 2023, the bank faced public scrutiny concerning the controversial redesign of the ₦200, ₦500, and ₦1,000 notes.

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