The Central Bank of Nigeria (CBN) has dismissed as fake a widely circulated report claiming it introduced N5,000 and N10,000 banknotes. In a statement on its official Instagram page on Wednesday, the apex bank clarified that the report did not origin… Read on blog or Reader SMALL BUSINESS INSIGHTS Read on blog or Reader CBN Debunks fake report on new N5,000 and N10,000 banknotes By Olamide Adedara on April 3, 2025 The Central Bank of Nigeria (CBN) has dismissed as fake a widely circulated report claiming it introduced N5,000 and N10,000 banknotes. In a statement on its official Instagram page on Wednesday, the apex bank clarified that the report did not originate from it and urged Nigerians to rely only on its official website, cbn.gov.ng, for verified information. Read also, CBN Debunks fake report on new N5,000 and N10,000 banknotes World Bank commits $1.08bn to boost small businesses, education, and nutrition in Nigeria NNPCL Shocks consumers with petrol price hike to N950/litre Stock market dips as small business investors monitor market trends NRC, South-East development commission partner to boost rail infrastructure for small business growth The false report, which spread rapidly on WhatsApp, alleged that the new high-value notes aimed to reduce cash-handling costs and streamline large transactions. It even falsely attributed the announcement to a supposed Deputy CBN Governor, Ibrahim Tahir Jr—a name the bank has confirmed does not exist within its leadership. CBN's communications department has launched an investigation into the source of the fake news, warning the public against misinformation.

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