CBN reacts to circular introducing new ₦5,000, ₦10,000 notes | READ DETAILS
The viral circular introducing new naira notes of N5,000 and N10,000 denominations set for circulation from May 1, has been described as fake by the Central Bank of Nigeria (CBN).
The apex bank in a statement issued via its official handle on X said the circular never emanated from them.
The viral circular widely shared on WhatsApp, falsely attributed to the CBN, stated,
“The Central Bank of Nigeria (CBN) has officially announced the introduction of two new denominations – N5,000 and N10,000 banknotes; as part of ongoing efforts to streamline cash transactions and improve liquidity management.”
The document further alleged that one Deputy CBN Governor, Dr. Ibrahim Tahir Jr., justified the move as a way to reduce cash-handling costs while offering Nigerians more efficient options for larger transactions.
However, the apex bank refuted the claims, stating that;
“The content is not from the Central Bank of Nigeria. Kindly note that the official website of the CBN is cbn.gov.ng,”.
