T he Central Bank of Nigeria (CBN) has dismissed as fake a viral report claiming that it has introduced new N5,000 and N10,000 banknotes.
In an official statement released via its Instagram page on Wednesday, the apex bank categorically stated that the report did not originate from it and urged the public to disregard the misinformation.
“The content is not from the Central Bank of Nigeria. Kindly note that the official website of the CBN is cbn.gov.ng,” the statement read, accompanied by an image labelling the alleged banknotes as fake.
Fake Report Circulating on WhatsApp
The false report, widely circulated on WhatsApp, falsely quoted an alleged CBN Deputy Governor, Ibrahim Tahir Jr, claiming that the new denominations were introduced to reduce cash-handling costs and improve large transactions.
According to the viral message, the notes were expected to enter circulation by May 1, 2025 and would feature iconic Nigerian leaders.
The CBN, however, clarified that no such person as "Ibrahim Tahir Jr" holds any position within the bank, further confirming that the entire report is a fabrication.
CBN Investigating the Source of Fake News
The apex bank’s communications department has announced an ongoing investigation into the origin of the fake report, urging Nigerians to rely on official CBN channels for accurate financial updates.
This is not the first time misleading reports about Nigeria’s currency have circulated, raising concerns about the spread of false financial information through social media platforms.
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