The rebuttal puts an end to the swirling rumors about the introduction of the new denominations
Central Bank of Nigeria Debunks Rumors of N5,000, N10,000 Notes
The Central Bank of Nigeria (CBN) has dismissed claims that it plans to introduce new N5,000 and N10,000 banknotes, labeling the reports as untrue.
Speculation had been circulating widely, suggesting that the CBN was preparing to launch these high-value denominations to streamline cash transactions.
According to the rumors, the new notes were intended to lower cash-handling expenses and boost liquidity management, with a supposed rollout date of May 1, 2025.
Some reports even credited the initiative to an alleged Deputy Governor, Dr. Ibrahim Tahir Jr. However, the CBN has firmly rejected these assertions.
Newsheadline247 gathered that the speculation regarding the CBN introducing N5,000 and N10,000 banknotes is false.
In a statement shared on its X account, the bank clarified, “This content is NOT from the Central Bank of Nigeria. Kindly note that the official website of the CBN is cbn.gov.ng,” urging the public to rely only on verified sources for information.
The rebuttal puts an end to the swirling rumors about the introduction of the new denominations. Read More
