“The Central Bank of Nigeria has dismissed viral reports claiming the introduction of new N5,000 and N10,000 notes, urging the public to disregard the false information.”
The Central Bank of Nigeria (CBN) has refuted claims circulating online about the introduction of new N5,000 and N10,000 banknotes, labeling the reports as false. In a statement on X (formerly Twitter), the apex bank disowned the rumors, emphasizing that its official website (cbn.gov.ng) remains the only authentic source for such announcements. The misleading reports had suggested that the higher denominations were intended to reduce cash-handling costs and improve liquidity, even falsely quoting a supposed Deputy Governor, Dr. Ibrahim Tahir Jr., as linking the launch to May 2025.
The CBN’s swift rebuttal aims to curb public confusion and prevent potential economic disruptions from the misinformation. This incident highlights the recurring challenge of fake news around monetary policy, prompting the bank to remind citizens to verify updates through official channels. No further details were provided on the origin of the false claims or possible actions against purveyors of the rumor.”
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