The Central Bank of Nigeria (CBN) has categorically disowned a circular claiming it has introduced two new denominations—N5,000 and N10,000 notes—set for circulation on May 1.
The alleged circular, which had been widely shared on WhatsApp, was clarified as false in a statement from the apex bank via its official handle on X (formerly Twitter).
The viral circular falsely attributed to the CBN stated, “The Central Bank of Nigeria (CBN) has officially announced the introduction of two new denominations – N5,000 and N10,000 banknotes; as part of ongoing efforts to streamline cash transactions and improve liquidity management.”