The Central Bank of Nigeria (CBN) has rejected claims that it is set to introduce new N5,000 and N10,000 banknotes, calling the reports false.
In a statement shared on X on Wednesday, the CBN clarified, “This content is NOT from the Central Bank of Nigeria. Kindly note that the official website of the CBN is cbn.gov.ng.”
The clarification comes in response to widespread misinformation suggesting that the CBN intended to introduce higher denomination notes to reduce cash-handling costs and improve liquidity management. Some versions of the rumors even attributed statements to a supposed Deputy Governor, Dr. Ibrahim Tahir Jr., claiming the new notes would be launched on May 1, 2025.
