The Central Bank of Nigeria (CBN) has dismissed reports claiming the introduction of new ₦5,000 and ₦10,000 banknotes, labeling them as false.
The rumors suggested that the apex bank planned to roll out the high-denomination notes to streamline cash transactions, reduce cash-handling costs, and enhance liquidity management. Some reports even cited a supposed Deputy Governor, Dr. Ibrahim Tahir Jr., claiming the notes would be launched on May 1, 2025.
In response, 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 bank urged the public to disregard the misinformation and rely on official communication channels for accurate updates.
