The CBN has refuted claims of introducing ₦5,000 and ₦10,000 notes following a viral fake circular. The bank urged the public to verify information through its official channels. This incident follows previous concerns over counterfeit currency in Nigeria, reinforcing the importance of official communication.
The Central Bank of Nigeria (CBN) has issued a clarification regarding a viral circular that falsely claimed the introduction of new ₦5,000 and ₦10,000 banknotes. In a statement shared on X (formerly Twitter), the CBN dismissed the circular as fraudulent, urging Nigerians to disregard it. The document, which spread widely on WhatsApp, allegedly announced the new denominations set to enter circulation on May 1.
According to the fake message, the new banknotes were part of the CBN’s strategy to improve liquidity management and streamline cash transactions. It even quoted a supposed Deputy Governor, Dr. Ibrahim Tahir Jr., who allegedly stated that the new notes would reduce cash-handling costs for businesses and Nigerians alike.
In response, the CBN emphasized the importance of verifying information through its official channels, particularly its website, cbn.gov.ng. The bank reiterated its commitment to transparency and accurate communication, highlighting that the circular was not an official release from the CBN.
This development comes on the heels of the CBN’s 2023 efforts to tackle counterfeit banknotes, which had been circulating in various markets across Nigeria. The CBN continues to collaborate with security agencies to combat counterfeit operations and safeguard the integrity of Nigeria’s currency system.
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