By Emmanuel Kwada
The Central Bank of Nigeria (CBN) has debunked circulating claims about the introduction of ₦5,000 and ₦10,000 naira banknotes, labeling them as fake and not originating from the apex bank.
This clarification comes amid widespread rumors on social media and various online platforms suggesting that these high-denomination notes were either in circulation or set to be introduced soon.
On April 2, 2025, posts on X and other media outlets claimed that the CBN had unveiled new ₦5,000 and ₦10,000 naira notes, with some even alleging a start date of May 1, 2025, for their circulation. However, the CBN swiftly responded, stating that no such denominations have been authorized or issued.
The bank emphasized that this content did not originate from its official channels and urged the public to rely solely on verified information.
The bank further cautioned Nigerians to be wary of unverified sources spreading false narratives about the naira
In a statement addressing the misinformation, the CBN clarified: “This content is NOT from the Central Bank of Nigeria. Kindly note that the official website of the CBN is cbn.gov.ng, and all authentic announcements regarding currency matters will be published there.” The bank further cautioned Nigerians to be wary of unverified sources spreading false narratives about the naira.
This is not the first time the CBN has had to address rumors about new high-denomination notes. In early 2025, similar claims about a ₦5,000 note featuring President Bola Tinubu were debunked by fact-checking organizations like Africa Check, which identified the images as AI-generated fakes. Historical attempts to introduce a ₦5,000 note, such as the proposal in 2012 that was later abandoned in 2022, have also fueled speculation, but no official move has been made in recent times.
Nigerians are encouraged to verify information through the CBN’s official website, cbn.gov.ng
The CBN’s prompt rebuttal underscores its commitment to maintaining public trust in Nigeria’s currency system, especially as the country navigates economic challenges. Nigerians are encouraged to verify information through the CBN’s official website, cbn.gov.ng, and to report suspicious claims to help curb the spread of misinformation.
Time will tell.