OGACHIBE

  According to the reports, the CBN was set to introduce the new notes to reduce cash-handling costs and improve liquidity management. The Central Bank of Nigeria (CBN) has refuted claims that it has introduced new ₦5,000 and ₦10,000 notes, describing the reports as false. This comes after widespread misinformation suggested that the apex bank had unveiled the high-denomination banknotes to enhance cash transactions. According to the reports, the CBN was set to introduce the new notes to reduce cash-handling costs and improve liquidity management. Some of these claims even attributed statements to a supposed Deputy Governor, Dr Ibrahim Tahir Jr., regarding the rollout of the notes from May 1, 2025. However, the CBN has denied these reports, stating: "This content is NOT from the Central Bank of Nigeria. Kindly note that the official website of the CBN is  cbn.gov.ng ."

 CBN Announces New ₦5,000 & ₦10,000 Notes "In a bid to reduce cash handling challenges, the Central Bank of Nigeria (CBN) has introduced new ₦5,000 and ₦10,000 notes featuring iconic Nigerian leaders. The notes will be in circulation from May 1, 2025."   CENTRAL BANK OF NIGERIA PRESS RELEASE CBN Unveils New ₦5,000 and ₦10,000 Banknotes to Enhance Cash Transactions Abuja, April 1, 2025 – The Central Bank of Nigeria (CBN) has officially announced the introduction of two new denominations - ₦5,000 and ₦10,000 banknotes; as part of ongoing efforts to streamline cash transactions and improve liquidity management. According to the Deputy CBN Governor, Dr. Ibrahim Tahir Jr., the move is aimed at reducing cash-handling costs and providing Nigerians with more efficient means of conducting large transactions. "The introduction of these new high-value denominations aligns with global best practices and will enhance economic activities while reducing the stress associated with c...