Temisan Olaifa
The Central Bank of Nigeria has denied the rumours making the rounds that it is planning to introduce new N5,000 and N10,000 notes. In a statement posted on its X handle (formerly Twitter) on Wednesday, CBN debunked the rumours, saying: “This content is NOT from the Central Bank of Nigeria. Kindly note that the official website of the CBN is cbn.gov.ng.”The clarification comes amid widespread misinformation suggesting that the CBN planned to roll out high-denomination banknotes to reduce cash-handling costs and improve liquidity management.Some versions of the false reports even attributed comments to a supposed Deputy Governor, Dr. Ibrahim Tahir Jr., claiming the notes would be introduced on May 1, 2025.
