Central Bank of Nigeria (CBN) said it has not issued any circular which claimed that it has introduced N5,000 and N10,000 notes to the existing denominations.
The apex bank described reports to the effect as false.
CBN put the records straight in a recent post it shared on its official X (formerly Twitter) page.
There were reports that the bank is set to N5,000 and N10,000 bank notes for easier cash transactions.
According to the reports, the financial regulator was moved to introduce the new notes to also reduce cash-handling costs and improve liquidity management.
A couple of the reports quoted a certain top official of CBN as being behind the news.
Furthermore, they said the new notes would be released from May 1, 2025.
However, the CBN has now dissociated itself from the reports, asserting that the particular website quoted and from which the reports emanated, does not belong to it.
On its verified social media handle, 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.”
