The Central Bank of Nigeria (CBN) has denied reports circulating about the introduction of new N5,000 and N10,000 banknotes, describing them as baseless.
In a statement released on its official X account, the apex bank clarified that the information was entirely false and urged Nigerians to ignore it.
“This content is NOT from the Central Bank of Nigeria,” the statement read, emphasizing that any official updates can only be found on the bank’s website, cbn.gov.ng.
The false reports, which have spread widely, suggested that the high-value notes were being introduced to cut cash-handling costs and improve liquidity.
Some versions of the claim even speculated that the new denominations would be launched on May 1, 2025.
Verdict: False.
