CBN Denies Introducing N5,000, N10,000 Banknotes!

CBN Denies Introducing N5,000, N10,000 Banknotes!

The Central Bank of Nigeria (CBN) has officially debunked claims that it plans to introduce N5,000 or N10,000 denominations. In a statement issued by the Director of Corporate Communications, Mrs. Hakama Sidi Ali, the apex bank described such reports as false, misleading, and not under consideration.

Key Clarifications:

• There is no ongoing currency redesign or denomination expansion process.
• The current focus remains on maintaining monetary stability and managing existing note denominations.
• The CBN urged the public to disregard social media speculation and rely on official communication.

Quote:

“The CBN is not introducing any new higher denominations. Any news to that effect is fake.”
— CBN Statement, Oct. 30, 2025

Citations:

1. Vanguard News: www.vanguardngr.com/2025/04/cbn-denies-introducing-n5000-n10000-banknotes/?utm_source=chatgpt.com
2. Nairametrics: nairametrics.com/2025/04/03/cbn-denies-fake-circular-introducing-n5000-and-n10000-notes/?utm_source=chatgpt.com
3. The Guardian Nigeria: guardian.ng/business-services/business/cbn-denies-introducing-n5000-n10000-banknotes/?utm_source=chatgpt.com