The Central Bank of Nigeria (CBN) has swiftly moved to shut down widespread rumors claiming it has introduced new ₦5,000 and ₦10,000 banknotes. In an official statement, the apex bank dismissed the reports as entirely false, warning Nigerians against falling for misinformation.
The viral claims suggested that the CBN planned to roll out the high-denomination notes to reduce cash-handling costs and improve liquidity management. Some versions of the hoax even attributed statements to a supposed Deputy Governor, Dr. Ibrahim Tahir Jr., who was allegedly quoted as saying the notes would be in circulation from May 1, 2025.
However, the CBN has debunked the claims, making it clear that no such plans exist. The bank stated: “This content is NOT from the Central Bank of Nigeria. Kindly note that the official website of the CBN is cbn.gov.ng.”
This incident highlights the growing spread of financial misinformation, especially in the digital age, where false reports can go viral within hours. The CBN urges Nigerians to rely only on official sources for updates on monetary policies and currency changes.
With the rumors officially debunked, the big question remains—who is behind this false narrative, and what is their true motive?
