Central Bank of Nigeria Denies Introduction of New Naira Notes

The Central Bank of Nigeria (CBN) has dismissed reports claiming the introduction of new ₦5,000 and ₦10,000 notes, calling them “false.”

The statement follows widespread misinformation suggesting that the CBN was set to launch these high-denomination banknotes in a bid to reduce cash-handling costs and enhance liquidity management.

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Further rumours also claimed that a Deputy Governor, Dr Ibrahim Tahir Jr., had confirmed the rollout of the new notes, scheduled for May 1, 2025. However, the CBN has firmly refuted these allegations.

In a public clarification, the bank said: ““This content is NOT from the Central Bank of Nigeria. Kindly note that the official website of the CBN is cbn.gov.ng.”