CBN noted that it did not authorize such a report, adding that the website quoted does not belong to it.
By Kehinde Okeowo
The Central Bank of Nigeria (CBN) has disowned a circular claiming that it has introduced N5,000 and N10,000 notes to existing denominations, saying the report is false.
The apex bank made the clarification in a recent post it shared on its official X page.
Prior to this development, there has been widespread reports that the CBN had unveiled the high-denomination bank notes to enhance cash transactions.
The report further noted that the financial regulator wanted to introduce the new notes in order to reduce cash-handling costs and improve liquidity management.
Some of the media outlets attributed the introduction of the new notes to a supposed Deputy Governor, Dr Ibrahim Tahir Jr.
They went on to say the new notes would be released from May 1, 2025.
Reacting to the news, CBN distanced itself from the reports and insisted that the website quoted does not belong to it.
Taking to its verified social media handle, the apex 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.”
