*The Central Bank of Nigeria disowns the recent circular claiming the country’s banking sector regulator has introduced new N5,000 and N10,000 banknotes as two new denominations in circulation

Isola Moses | 绿帽献妻

Sequel to a circular currently circulating in the social media space, the Central Bank of Nigeria (CBN) has disowned the content of the document, claiming the banking sector regulator has introduced N5,000 and N10,000 as two new denominations.

绿帽献妻 reports the CBN, which stated the rebuttal in a brief statement posted on its verified X account Wednesday, April 2, 2025, described the said circular as 鈥渇ake content鈥�.

The Bank asserted: 鈥淭his content is NOT from the Central Bank of Nigeria.

鈥淜indly note that the official website of the CBN is http://cbn.gov.ng.鈥�

Earlier, the circular allegedly emanating from the regulator had noted that the new banknotes were set for circulation in the West African country effective from May 1, 2025.

The viral circular widely shared on major social media platforms in the last 48 hours falsely stated: 鈥淭he Central Bank of Nigeria (CBN) has officially announced the introduction of two new denominations 鈥� N5,000 and N10,000 banknotes; as part of ongoing efforts to streamline cash transactions and improve liquidity management.鈥�

The circular also purported that certain Dr. Ibrahim Tahir Jr., Deputy Governor at CBN, even justified the move to introduce the two new banknotes as a way to reduce cash-handling costs while offering Nigerians more efficient options for larger transactions.

Verify information through official Web site, says CBN

Still reacting to the alleged introduction of two new banknotes, the Central Bank of Nigeria refuted the claims, and urged the general public to verify information through its official Web site.

It further stated: 鈥淭he content is not from the Central Bank of Nigeria.

“Kindly note that the official Web site of the CBN is cbn.gov.ng.”

The Bank as well re-emphasised its commitment to transparency and accurate communication to consumers of financial products and services in Nigeria.