CBN debunks reports of new N5,000, N10,000 notes

The Central Bank of Nigeria (CBN) on Wednesday refuted claims that it has introduced new N5,000 and N10,000 notes, describing the reports as false.

This comes after widespread misinformation suggested that the apex bank had unveiled the high-denomination banknotes to enhance cash transactions.

According to the reports, the CBN was set to introduce the new notes to reduce cash-handling costs and improve liquidity management.

Some of these claims even attributed statements to a supposed Deputy Governor, Dr Ibrahim Tahir Jr., regarding the rollout of the notes from May 1, 2025.

However, the CBN has denied these reports, stating: “This content is NOT from the Central Bank of Nigeria. Kindly note that the official website of the CBN is cbn.gov.ng.”