The Central Bank of Nigeria dismisses claims of introducing new ₦5,000 and ₦10,000 banknotes, warning the public against misinformation.

The Central Bank of Nigeria (CBN) has dismissed reports claiming it has introduced new ₦5,000 and ₦10,000 banknotes, labelling them as fake.

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In a statement posted on its official Instagram page on Wednesday, the apex bank clarified that it had not issued such an announcement.

“The content is not from the Central Bank of Nigeria. Kindly note that the official website of the CBN is cbn.gov.ng,” the statement read.

The false report, widely circulated on WhatsApp, claimed that the new denominations would be introduced on 1 May 2025 to ease cash-handling costs and improve large transactions.

It was allegedly attributed to a Deputy CBN Governor named Ibrahim Tahir Jr. However, the CBN has confirmed that no such official exists within the bank’s leadership.

The CBN’s communications department has launched an investigation into the source of the misinformation and urged the public to rely only on its official channels for credible financial updates.