The Central Bank of Nigeria (CBN) has dismissed claims that it has introduced ₦5,000 and ₦10,000 banknotes, labeling the reports as false.
Widespread misinformation had suggested that the apex bank planned to roll out the high-denomination notes to streamline cash transactions, reduce handling costs, and improve liquidity management. Some of the claims even cited a supposed statement from a Deputy Governor, Dr. Ibrahim Tahir Jr., alleging the notes would be introduced on May 1, 2025.
In a statement, the CBN denied the reports, clarifying: “This content is NOT from the Central Bank of Nigeria. Kindly note that the official website of the CBN is cbn.gov.ng.”
