The Central Bank of Nigeria deemed a story claiming the introduction of new N5,000 and N10,000 banknotes to be fraudulent.
The bank said in an Instagram post on Wednesday that it was not the source of the information.
“The Central Bank of Nigeria did not create the content. In the post describing the article and the purported banknotes as fraudulent, the apex bank said, “Please take note that the official website of the CBN is cbn.gov.ng.”
According to the widely circulated article, which quotes Ibrahim Tahir Jr., a Deputy CBN Governor, the step is intended to lower the expenses associated with managing currency and give Nigerians more effective ways to carry out significant transactions.
The story partially stated, “CBN Announces New N5,000 & N10,000 Notes,” and it looked as though it had been shared several times on WhatsApp. The Central Bank of Nigeria (CBN) has released new N5,000 and N10,000 notes with famous Nigerian leaders on them in an effort to ease cash management difficulties. On May 1, 2025, the notes will go into circulation.
To improve cash transactions, the CBN introduces new N5,000 and N10,000 banknotes. April 1, 2025, Abuja As part of continuous efforts to improve liquidity management and expedite cash transactions, the Central Bank of Nigeria (CBN) has formally announced the launch of two new denominations: N5,000 and N10,000 banknotes.
The goal of the measure, according to Dr. Ibrahim Tahir Jr., the Deputy Governor of the CBN, is to lower the expenses associated with managing cash and give Nigerians more effective ways to carry out significant transactions.
The CBN’s communications department, meanwhile, stated in a statement that it is looking into the origin of the false information and that there was no deputy governor with that name.
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