CBN Denies Reports of New N5,000 and N10,000 Notes.

The Central Bank of Nigeria (CBN) has refuted claims that it plans to introduce new N5,000 and N10,000 banknotes. In a statement issued on its official X (formerly Twitter) page, the CBN described the reports as false and clarified that they were not sourced from the central bank.

The rumors had circulated widely, suggesting that the CBN would unveil the new high-denomination notes to enhance cash transactions, reduce handling costs, and improve liquidity management. Some reports even cited a supposed Deputy Governor, Dr. Ibrahim Tahir Jr., as being linked to the alleged move.

The reports also claimed that the new banknotes would be introduced by May 1, 2025. In its statement, the CBN urged the public to disregard the misleading information and emphasized that official announcements would only be made through its official channels, including its website at cbn.gov.ng.