By Adenike Lawal
The Central Bank of Nigeria has denied claims that it is introducing new five thousand and ten thousand naira banknotes, dismissing a widely circulated document as fake.
In a statement on its verified X account, the apex bank debunked the report, which had spread rapidly on platforms like WhatsApp.
The false circular, which bore the name of Deputy Governor Dr. Ibrahim Tahir Jr., claimed the new notes would be released on May 1 to improve cash transactions and lower handling costs.
The CBN urged the public to disregard the information and rely only on its official website, cbn.gov.ng, for authentic updates.
This comes amid lingering concerns over Nigeria’s currency system following the controversial redesign of two hundred, five hundred, and one thousand naira notes in 2023.
That move sparked fears of counterfeiting, particularly with higher denominations.
Hakama Ali, Acting Director of Corporate Communications at the CBN, reiterated that counterfeiting is a serious crime punishable by up to five years in prison.
The bank assured Nigerians that it remains committed to safeguarding the integrity of the national currency.
