The Central Bank of Nigeria (CBN) has officially debunked a circular circulating online, which claimed that the bank was set to introduce two new denominations – ₦5,000 and ₦10,000 notes.
The CBN labeled the circular as “fake” and urged the public to disregard the false information.
The viral circular, which gained traction across platforms like WhatsApp, falsely attributed the announcement to the CBN, claiming that the new notes were to be introduced into circulation starting May 1.
The document also included a fabricated statement from a supposed Deputy CBN Governor, Dr. Ibrahim Tahir Jr., who purportedly justified the move as part of the bank’s efforts to streamline cash transactions and reduce cash-handling costs.
In response, the CBN took to its official X (formerly Twitter) account to issue a refutation.
The apex bank clarified that the circular was not issued by them, urging the public to verify any official information through the bank’s legitimate website.
“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.
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