The Central Bank of Nigeria (CBN) has dismissed claims that it introduced new N5,000 and N10,000 banknotes, calling the reports fake.
In a statement on its official Instagram page, the apex bank clarified that the information did not originate from it and urged the public to rely only on its official website, cbn.gov.ng, for accurate updates.
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The false report, widely circulated on WhatsApp, alleged that the bank planned to release the higher denominations by May 1, 2025, to reduce cash-handling costs. It even quoted a non-existent Deputy CBN Governor, Ibrahim Tahir Jr.
CBN’s communications department confirmed that no such individual holds a leadership position in the bank and announced an investigation into the source of the misinformation.
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