The Central Bank of Nigeria (CBN) has dismissed a report circulating online that it had introduced new N5,000 and N10,000 banknotes. In a statement shared on its Instagram page on Wednesday, the CBN clarified that the report was not from the bank and labeled it as fake. The bank emphasized that its official website is cbn.gov.ng, urging the public to verify any information from credible sources.
The false report, which appeared on platforms like WhatsApp, claimed that the CBN would launch the new denominations on May 1, 2025. It also falsely attributed the announcement to Deputy CBN Governor Ibrahim Tahir Jr. The report suggested that the introduction of the new notes was part of efforts to reduce cash-handling costs and improve large transactions.
In its post, the CBN reiterated that no such announcement had been made, and there was no Deputy Governor by the name cited in the fake news. The communications department of the bank revealed that they are investigating the source of the misleading content and will take appropriate action.
This incident highlights the increasing spread of misinformation on social media and the need for Nigerians to verify financial news through official channels. The CBN’s response underscores its commitment to safeguarding the integrity of its communication with the public.
Source: punch