The Central Bank of Nigeria (CBN) has warned of a “fake” viral N5,000 banknote circulating on social media.
The image, which features the photograph of President Bola Tinubu, has been widely shared across platforms, sparking speculation about the possible introduction of a N5,000 currency note.
However, the CBN said the content is not authentic and urged the public to disregard it.
“This content is fake. Let the public be guided,” the apex bank said.
The CBN has repeatedly advised Nigerians to rely on its official communication channels for updates on currency redesigns and other policy changes.
On April 2, 2025, the apex bank disowned a circular claiming that the financial regulator had introduced N5,000 and N10,000 notes.
The circular, purportedly from the CBN, was widely shared on WhatsApp, claiming that the new notes were to be circulated from May 1, 2025.
On February 6, 2023, the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA) said the CBN should have introduced a N5,000 note rather than embarking on a currency redesign at the time.
Sola Obadimu, former director-general of NACCIMA, had said the creation of a N5,000 note would have mopped up the money in circulation without creating the discomfort that trailed the currency redesign policy.
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