The Central Bank of Nigeria (CBN) has stated that it has no plans for a new note, clarifying its position on the introduction of the N5000 note.
Umar explained that if the apex bank wanted to carry out note restructuring, it would need to coin the lower bills, like the N100 note, for example. She was represented by Amina Halidu-Giwa, the Head of the Policy Development Division, Currency Operations Department of the bank.
Because of the commotion, he explained, “We are not introducing any new notes. However, some people have seen one N5000 note that we are not aware of.”