CBN Denies Report on New N5,000 and N10,000 Banknotes
The Central Bank of Nigeria (CBN) has refuted a circulating report claiming the introduction of new N5,000 and N10,000 banknotes. The apex bank dismissed the information as false in a post shared on its official Instagram page, stating that the report did not originate from the CBN.
In the statement, the CBN clarified that no such announcement had been made, urging the public to rely on official channels for information. The post emphasized that the correct website for CBN updates is cbn.gov.ng, reinforcing the importance of verifying news through trustworthy sources.
The misleading report, which had been circulating widely on WhatsApp, included fabricated quotes from a supposed Deputy Governor, Dr. Ibrahim Tahir Jr. The report claimed that the introduction of the new banknotes was part of an initiative to reduce cash-handling costs and improve the efficiency of large transactions in Nigeria. The fake content even provided a date, suggesting the new N5,000 and N10,000 notes would be introduced by May 1, 2025.
In response, the CBN stated that no individual named Ibrahim Tahir Jr. holds the position of Deputy Governor at the bank, further discrediting the report. The CBN has initiated an investigation to trace the origin of the fake content.
Nigerians are advised to be cautious of such misinformation and to seek updates only from official channels to avoid confusion.
