Central Bank Of Nigeria Debunks N5,000 And N10,000 Notes

The Central Bank of Nigeria (CBN) has officially dismissed claims regarding the introduction of new N5,000 and N10,000 banknotes, labeling such reports as false and misleading.

False Reports on High-Denomination Banknotes

Recent widespread speculations suggested that the apex bank was preparing to roll out high-value currency denominations to streamline cash transactions and enhance liquidity management in Nigeria’s financial system.

According to these reports, the introduction of the N5,000 and N10,000 notes was purportedly linked to a supposed Deputy Governor, Dr. Ibrahim Tahir Jr., with claims that the new currency would be in circulation from May 1, 2025.

CBN’s Official Statement

Refuting these claims, the CBN took to its official X (formerly Twitter) page, stating:

“This content is NOT from the Central Bank of Nigeria. Kindly note that the official website of the CBN is cbn.gov.ng.”

This clarification aligns with the CBN’s continuous efforts to combat misinformation and ensure the public relies only on verified sources for banking policies and financial updates.

For accurate updates on Nigeria’s financial policies, visit the Central Bank of Nigeria’s official website. You can also check out this analysis on Nigeria’s monetary policy from the International Monetary Fund (IMF).

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