Olayiwola Matthew
The Central Bank of Nigeria (CBN) has debunked claims that it is introducing N5,000 and N10,000 banknotes, describing the report as false and misleading.
In a statement posted on its official X handle on Wednesday, the apex bank urged Nigerians to disregard the report, which falsely attributed the move to a supposed Deputy Governor of the bank, Ibrahim Tahir Jr.
“The content is not from the Central Bank of Nigeria. Kindly note that the official website of the CBN is cbn.gov.ng,” the statement read.
The bank’s communications department further clarified that the CBN has not issued any directive regarding the introduction of higher denomination notes and warned against misinformation.
“The only official sources for releasing statements to the media are our website or statements from our department.
“There is also no Deputy Governor by such a name. We are investigating the source of this fake content,” the statement added.
The fake report had claimed that the introduction of N5,000 and N10,000 notes was aimed at reducing cash-handling costs and improving large transactions.
It also falsely stated that the new notes would feature portraits of Nigeria’s founding fathers, Chief Obafemi Awolowo and Dr. Nnamdi Azikiwe, while incorporating advanced security features.
However, the CBN has reaffirmed that no such plan exists and advised the public to rely only on official communication channels for accurate information.