The Central Bank of Nigeria (CBN) has dismissed as fake a widely circulated report claiming it introduced N5,000 and N10,000 banknotes.
In a statement on its official Instagram page on Wednesday, the apex bank clarified that the report did not originate from it and urged Nigerians to rely only on its official website, cbn.gov.ng, for verified information.
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The false report, which spread rapidly on WhatsApp, alleged that the new high-value notes aimed to reduce cash-handling costs and streamline large transactions. It even falsely attributed the announcement to a supposed Deputy CBN Governor, Ibrahim Tahir Jr—a name the bank has confirmed does not exist within its leadership.
CBN’s communications department has launched an investigation into the source of the fake news, warning the public against misinformation.
