The Central Bank of Nigeria (CBN) reports that it has introduced ₦5,000 and ₦10,000 banknotes has been debunked, dismissing a widely circulated document as false.In a statement via its official handle on X (formerly Twitter), the apex bank described the viral circular as “fake” and urged Nigerians to rely on 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, reaffirming its commitment to transparency.
The false document, which gained traction on WhatsApp, claimed the new denominations were set for circulation from May 1.It also falsely attributed a statement to a Deputy CBN Governor, Dr. Ibrahim Tahir Jr., alleging that the new notes were introduced to improve liquidity management and reduce cash-handling costs.
This is not the first time the CBN has had to address misinformation about currency matters. In 2023, the bank faced public scrutiny over the controversial redesign of the ₦200, ₦500, and ₦1,000 notes.
Later that year, it raised concerns over the circulation of counterfeit naira notes in major markets across the country.
The CBN reiterated that counterfeiting naira notes is a criminal offense punishable by at least five years imprisonment, as warned by Acting Director for Corporate Communications, Hakama Ali.
The bank assured Nigerians that it remains committed to working with security agencies to protect the integrity of the naira.
