CBN Breaks Silence on the Reported Introduction of ₦5,000 and ₦10,000 Denominations

By Dansu Peter  The Central Bank of Nigeria (CBN) has dismissed widespread reports alleging the introduction of ₦5,000 and ₦10,000 banknote...

By Dansu Peter 

The Central Bank of Nigeria (CBN) has dismissed widespread reports alleging the introduction of ₦5,000 and ₦10,000 banknotes, labeling such claims as unfounded and misleading.

In an official statement released to address the growing speculation, the apex bank categorically denied issuing higher denomination currency notes, stressing that the viral images and purported press release circulating on social media are fabricated.

The CBN clarified that any decision concerning changes to Nigeria’s currency structure would be formally communicated through established channels, including credible media platforms and the bank’s official website.

“The public is urged to disregard such false reports and to rely on authentic sources for accurate financial and economic updates,” the statement read.

The spread of misinformation, particularly through social media, has become a major concern for financial regulators. The CBN cautioned Nigerians to verify news before dissemination to avoid creating unnecessary panic or confusion within the economy.

This clear dismissal from the apex bank aims to restore public confidence and curb the dissemination of baseless claims.