Korede Abdullah in Lagos
The Central Bank of Nigeria (CBN) has dismissed a widely circulated message falsely claiming the introduction of N5,000 and N10,000 banknotes.
On Thursday, the apex bank disclaimed the circular through a statement released on its official X (formerly Twitter) account on described it as, “fake” and urged Nigerians to rely only on its official communication channels.
The rebuttal came as a reaction to the widely spreading message shared on WhatsApp which our correspondent drew the attention of the CBN’s media handlers on Wednesday.
A copy of the fake circular was forwarded to the CBN media unit for verification. The Bank said verbally to our inquiry, “it is not from us”.
Reaffirming its stance against misinformation in the statement, the CBN clarified, “The content is not from the Central Bank of Nigeria. Kindly note that the official website of the CBN is cbn.gov.ng.”
The CBN stressed its commitment to transparency and accurate public communication, warning citizens to verify financial updates only through legitimate sources.
Acting Director for Corporate Communications, Hakama Ali, previously warned that counterfeiting CBN-issued notes is a serious offense punishable by at least five years imprisonment.
She reassured the public of ongoing collaboration with security and financial agencies to combat fraudulent activities and maintain the integrity of Nigeria’s currency system.
The CBN highlighted it has been actively addressing issues related to counterfeit currency, especially higher denominations frequently found in markets and commercial centers.
The viral message purporting that the new denominations would be in circulation from May 1, was issued by a Deputy CBN Governor, Dr. Ibrahim Tahir Jr., who was falsely credited with justifying the move as a means to streamline cash transactions and reduce handling costs.
This denial comes in the wake of previous controversies in 2023 when the CBN redesigned the N200, N500, and N1,000 notes, leading to cash shortages and public concern over the policy’s implementation.
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