Posted by Samuel on Thu 03rd Apr, 2025 - tori.ng
There has been widespread reports that the CBN had unveiled the high-denomination bank notes to enhance cash transactions.
Nigeria's apex bank, the Central Bank of Nigeria, CBN, has denied the claims that it is introducing new N5,000 and N10,000 notes.
CBN described the reports as false.
There has been widespread reports that the CBN had unveiled the high-denomination bank notes to enhance cash transactions.
The report said the apex bank was set to introduce the new notes to reduce cash-handling costs and improve liquidity management.
Some of the reports attributed the introduction of the new notes to a supposed Deputy Governor, Dr Ibrahim Tahir Jr.
It was reported that the new notes would be released from May 1, 2025.
However, posting the reports on its X page, the CBN wrote: “This content is NOT from the Central Bank of Nigeria. Kindly note that the official website of the CBN is cbn.gov.ng.”