BREAKING NEWS: Why Finally Central Bank of Nigeria debunks claim of new N5,000, N10,000 notes [PHOTOS]
The Central Bank of Nigeria on Wednesday debunked the claim that it was set to introduce new N5,000 and N10,000 notes into the system.
The bank in a statement described such reports as fake.
The statement by the apex bank followed a viral claim that some new notes had been released by the CBN.
According to the reports, the new notes will enhance cash transactions across the nation.
It also said that the new high-denomination notes will reduce cash handling costs and improve the liquidity management of financial institutions.
The report also stated that the introduction of the new notes announced by Deputy Governor, Dr Ibrahim Tahir Jr. would be released on May 1, 2025.
However, on its X page, CBN wrote, “This content is NOT from the Central Bank of Nigeria. Kindly note that the official website of the CBN is cbn.gov.ng.”