The Central Bank of Nigeria, CBN, has disowned a circular claiming it has introduced two new denominations, five thousand naira and ten thousand naira notes.
The apex bank in a statement via its official handle on X, formerly Twitter, described the circular as fake.
The alleged circular said the new notes were set for circulation from May 1.
The viral circular, widely shared on WhatsApp, falsely attributed to the CBN, stated, “The Central Bank of Nigeria, CBN, has officially announced the introduction of two new denominations, five thousand naira and ten thousand naira banknotes, as part of ongoing efforts to streamline cash transactions and improve liquidity management.”
It alleged that one Deputy CBN Governor, Dr. Ibrahim Tahir Jr., justified the move as a way to reduce cash-handling costs while offering Nigerians more efficient options for larger transactions.
However, the apex bank refuted the claims, urging the public to verify information through its official website, cbn.gov.ng, emphasising its commitment to transparency and accurate communication.
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