The Central Bank of Nigeria has refuted claims that it has introduced N5,000 and N10,000 banknotes to facilitate cash transactions.
In a statement on its official X account, the bank described the reports as false, asserting that they did not originate from the institution. It emphasised that all official communications are released exclusively through its website or the communications department.
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The misinformation, which cited a fictitious Deputy Governor, Ibrahim Tahir Jr., suggested the alleged banknotes were meant to cut cash-handling costs and streamline large transactions.
The CBN reaffirmed that no such denominations exist and urged the public to rely on verified sources for accurate information. It added that an investigation is underway to identify those behind the misleading report.
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