Nigeria's central bank has reported on new ₦ 5,000, ₦ 10,000 notes

According to the reports, the CBN was set up to introduce the new notes to lower cash handling costs and improve liquidity management. The Central Bank of Nigeria (CBN) claimed to have set up new ₦ 5,000 and ₦ 10,000 notes, which described the reports as false. This comes after the widespread misinformation suggested that the peak bank unveiled the banknotes with high denomination to improve cash transactions. According to the reports, the CBN was set up to introduce the new notes to lower cash handling costs and improve liquidity management. Some of these claims even attributed statements to a suspected deputy governor, Dr Ibrahim Tahir Jr., in terms of the launch of the notes of May 1, 2025. However, the CBN has denied these reports, stating: “This content is not from the Central Bank of Nigeria. Note that the official website of the CBN CBN is. This content does not come from the Central Bank of Nigeria. Note that the official website of the CBN https://bfceypxyta is. Nigeria (@cenbank) 2 April 2025