The Central Bank of Nigeria (CBN) has officially debunked a circulating report that claimed the bank is set to introduce new N5,000 and N10,000 banknotes. The CBN took to its official Instagram page on Wednesday to clarify that the content in the report did not come from the bank, labeling the claims as fake.
The false report, which has spread rapidly on social media platforms, particularly WhatsApp, quoted an alleged Deputy Governor of the CBN, Ibrahim Tahir Jr. According to the report, the CBN’s introduction of the new banknotes was aimed at reducing cash-handling challenges and offering Nigerians more efficient means of conducting large transactions. The report further stated that the new N5,000 and N10,000 notes, featuring prominent Nigerian leaders, would be issued starting May 1, 2025.
However, the CBN quickly refuted the claims, stating that there is no individual by the name of Ibrahim Tahir Jr in its leadership. The bank also noted that the report’s content did not come from any official communication channels of the CBN. In addition to debunking the story, the CBN issued a reminder to the public to rely on its official website, cbn.gov.ng, for authentic information regarding the bank’s activities and announcements.
The CBN’s communications department is currently investigating the source of the misinformation and advised the public to be cautious of false news spreading through unofficial channels. The bank’s quick response underscores its commitment to ensuring that Nigerians are well-informed and protected from misleading reports.
The confusion surrounding this fake report highlights the growing concern about the spread of misinformation, especially on social media, where unverified news often gains traction before official corrections can be made. The CBN’s swift clarification aims to maintain public trust in the country’s financial systems and prevent unnecessary panic over the alleged currency changes.
