The Central Bank of Nigeria, CBN, refutes rumors of introducing new N5,000 and N10,000 notes, labeling the reports as untrue.
Despite widespread claims suggesting the apex bank’s intention to unveil high-denomination banknotes for smoother cash transactions, the Apex Bank maintains that no such decision has been made.
The supposed introduction of new notes, credited to Deputy Governor Dr. Ibrahim Tahir Jr., was alleged to reduce cash-handling costs and enhance liquidity management.
Reports indicating a release date of May 1, 2025, for the new notes are dismissed as baseless.
However, posting the reports on its X page, the bank wrote: “This content is NOT from the Central Bank of Nigeria. Kindly note that the official website of the CBN is cbn.gov.ng.”
