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CBN Debunks Rumors of New N5,000 & N10,000 Banknotes
The Central Bank of Nigeria refuted a false claim stating they had issued new N5,000 and N10,000 notes.
On Wednesday, the bank posted on its Instagram page stating that the report was not produced by them.
"The information provided does not originate from the Central Bank of Nigeria. Please be informed that the official website of the CBN is cbn.gov.ng," the central bank mentioned in the statement, categorizing both the report and the alleged banknotes as counterfeit.
A circulated report citing Deputy Central Bank of Nigeria Governor, Ibrahim Tahir Jr., stated that this action is intended to decrease expenses associated with handling cash and offer Nigerians more effective methods for executing substantial transactions.
The report, which seemed to have circulated several times on WhatsApp, partially stated: "CBN Introduces New N5,000 & N10,000 Bills. To address issues related to managing cash, the Central Bank of Nigeria (CBN) has issued new N5,000 and N10,000 bills adorned with prominent Nigerian figures. These currency notes will enter circulation starting May 1, 2025."
CBN introduces new N5,000 and N10,000 notes for improved financial exchanges. Abuja, April 1, 2025 — The Central Bank of Nigeria (CBN) has formally launched two additional currency denominations: N5,000 and N10,000 bills. This initiative aims to simplify cash transactions and better manage liquidity. As stated by the Deputy CBN Governor, Dr Ibrahim Tahir Jr., this step seeks to cut down expenses related to handling money and offer Nigerian citizens more effective ways to handle significant monetary dealings.
In the meantime, a declaration from the communication unit of the CBN indicated that there is no individual with such a name serving as a deputy governor. They also mentioned that they are currently looking into the origin of the false information.
Provided by SyndiGate Media Inc. Syndigate.info ).- Get link
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