Central Bank Refutes Reports Of New ₦5,000, ₦10,000 Notes - Business

Central Bank Refutes Reports Of New ₦5,000, ₦10,000 Notes - Business - Nairaland

Nairaland Forum › Nairaland General › Business › Central Bank Refutes Reports Of New ₦5,000, ₦10,000 Notes (12421 Views)

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Central Bank Refutes Reports Of New ₦5,000, ₦10,000 Notes by Antoeni(op): 9:54pm On Apr 02, 2025

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."

https://saharareporters.com/2025/04/02/nigerias-central-bank-debunks-reports-new-n5000-n10000-notes

Re: Central Bank Refutes Reports Of New ₦5,000, ₦10,000 Notes by Antoeni(op): 9:57pm On Apr 02, 2025

In Nigeria, Anything The Nigeria Government Debunks, Just Know it's True. Give Them 2 Months

79 Likes 4 Shares

Re: Central Bank Refutes Reports Of New ₦5,000, ₦10,000 Notes by Antoeni(op): 9:58pm On Apr 02, 2025

A serious government who truly wants to fight corruption will withdraw N1000 and N500 notes from circulation rather than considering printing of higher notes to aid corruption.

38 Likes 2 Shares

Re: Central Bank Refutes Reports Of New ₦5,000, ₦10,000 Notes by floss(m): 10:37pm On Apr 02, 2025

Anything dat will scatter Nigeria further is welcome…

11 Likes 1 Share

Re: Central Bank Refutes Reports Of New ₦5,000, ₦10,000 Notes by DEXTROVERT: 11:53pm On Apr 02, 2025

One cool
Palm wine and zoo
For you

They
Throw
It
Out
As rumor
To sample opinion
Then
Let
The
Internet warriors abuse their tribe and religion
Finally
They set absurd reason and implement it

Thats
Where
We
Are
With NNPC till date

15 Likes 2 Shares

Re: Central Bank Refutes Reports Of New ₦5,000, ₦10,000 Notes by semuni: 4:45am On Apr 03, 2025*

Time will tell

1 Like

Re: Central Bank Refutes Reports Of New ₦5,000, ₦10,000 Notes by SensualMan: 6:36am On Apr 03, 2025

Any time this Støøpid administration refutes a statement then know it's truth.

I'm privy to the production room of CBN and I can tell u for a truth the 10k note which will hit the streets soon has Bola Ahmed Tinubu on it.

Take note: this ediot is not sleeping ooo

21 Likes 1 Share

Re: Central Bank Refutes Reports Of New ₦5,000, ₦10,000 Notes by phemmie06(m): 6:36am On Apr 03, 2025

Every news started from rumors .... For it to be rumored it's already in the pipeline.... No be Nigeria we de.

More rooms to loot the Nation must surface..... Stewpid polithievians, executhieves and legitlooters

5 Likes

Re: Central Bank Refutes Reports Of New ₦5,000, ₦10,000 Notes by YellowbaMoslem: 6:36am On Apr 03, 2025

A Dollar will still reach 5k per naira in a very short time.

The world is moving very fast in making electric cars very affordable so that we get rid of fossil car engines.
By then, crude Oil will become obsolete.

That's when Nigerians will know the meaning of economic hardship, and economic crisis grin

I love the fact that Nigeria can never diversify, let corruption lead us to abyss and sink us deeper than Titanic.

The insecurity that will arise due to the ripple effect of this impeding doom that is coming, even rich people will not survive it in their estate.
We are heading to a state of anarchy, where many crime leaders like Bello Turji will arise, even in some southern Nigeria where Muslims are visibly present.

The sham unity holding this country would collapse from its base.

Let tribalism keep us apart from tackling this impending doom.
Nigerians will learn the hard way.
Some will understand what I'm saying, some will think its tackling the government, but I didn't mention any president's name.

5 Likes 1 Share

Re: Central Bank Refutes Reports Of New ₦5,000, ₦10,000 Notes by ATEAMS: 6:36am On Apr 03, 2025

Anyhow

Re: Central Bank Refutes Reports Of New ₦5,000, ₦10,000 Notes by straighttalk(m): 6:36am On Apr 03, 2025

Rumor in all spare

Re: Central Bank Refutes Reports Of New ₦5,000, ₦10,000 Notes by helinues: 6:36am On Apr 03, 2025

The fake people at it again

54 Likes

Re: Central Bank Refutes Reports Of New ₦5,000, ₦10,000 Notes by Quelme: 6:37am On Apr 03, 2025

Politicians we have a field day looting our collective Treasury so easily....

1 Like 2 Shares

Re: Central Bank Refutes Reports Of New ₦5,000, ₦10,000 Notes by Omexonomy: 6:38am On Apr 03, 2025

refute what?
only for us to see tinubu launching the money

2 Likes

Re: Central Bank Refutes Reports Of New ₦5,000, ₦10,000 Notes by Kobicove(m): 6:38am On Apr 03, 2025

I knew the news was false immediately I heard about it

Re: Central Bank Refutes Reports Of New ₦5,000, ₦10,000 Notes by Oakenshield: 6:38am On Apr 03, 2025

Gradually we are turning Zimbabwe 😁. We go see Buhari for 100,000 naira notes tag the great depression disaster 😁

4 Likes

Re: Central Bank Refutes Reports Of New ₦5,000, ₦10,000 Notes by Kayberg: 6:38am On Apr 03, 2025

Anything they debunk is true.
Give them time.

5 Likes

Re: Central Bank Refutes Reports Of New ₦5,000, ₦10,000 Notes by Oakenshield: 6:39am On Apr 03, 2025

But I know it's fake,we haven't reached this stage

Re: Central Bank Refutes Reports Of New ₦5,000, ₦10,000 Notes by havenz(m): 6:41am On Apr 03, 2025

And the news must come to be true sooner or later . This is Nigeria anything way government debunk must happen.

2 Likes

Re: Central Bank Refutes Reports Of New ₦5,000, ₦10,000 Notes by onatisi(m): 6:41am On Apr 03, 2025

if they deny it, that means it is true they are planning it

3 Likes

Re: Central Bank Refutes Reports Of New ₦5,000, ₦10,000 Notes by Kaybaba5(m): 6:42am On Apr 03, 2025

God help us in this country

Re: Central Bank Refutes Reports Of New ₦5,000, ₦10,000 Notes by onatisi(m): 6:43am On Apr 03, 2025

Good to see how Nigerians are gradually waking up to the reality of these politicians and no one believes them any longer,

1 Like

Re: Central Bank Refutes Reports Of New ₦5,000, ₦10,000 Notes by semuni: 6:44am On Apr 03, 2025

It doesn't seems to be true at all, on what base do they need that

Re: Central Bank Refutes Reports Of New ₦5,000, ₦10,000 Notes by Dogalmighty17: 6:47am On Apr 03, 2025

Thier denial is confirmation.

2 Likes 1 Share

Re: Central Bank Refutes Reports Of New ₦5,000, ₦10,000 Notes by Kingluqman(m): 6:49am On Apr 03, 2025

Let's just expect it... Nor be FG again

1 Like

Re: Central Bank Refutes Reports Of New ₦5,000, ₦10,000 Notes by Aleister(m): 6:49am On Apr 03, 2025

Antoeni:
In Nigeria, Anything The Nigeria Government Debunks, Just Know it's True. Give Them 2 Months

You just spoke my mind jare. Thank you

2 Likes 1 Share

Re: Central Bank Refutes Reports Of New ₦5,000, ₦10,000 Notes by nedekid: 6:49am On Apr 03, 2025

Oakenshield:
But I know it's fake,we haven't reached this stage

From past experience, you should know this is the "testing the microphone" stage. Anything government deny is always true.

2 Likes

Re: Central Bank Refutes Reports Of New ₦5,000, ₦10,000 Notes by joeyswift(m): 6:50am On Apr 03, 2025

This is also a leaked memo like the edo State tribunal result. Our economy is in shambles,that is why they are printing 5k and 15k notes. Ask Zimbabwe that printed 1 million naira note

1 Like

Re: Central Bank Refutes Reports Of New ₦5,000, ₦10,000 Notes by fineboynl(m): 6:53am On Apr 03, 2025*

.. nothing wrong with that. It's long overdue.

Why do you need more notes to buy anything tangible from the market when you can use few notes. we already faced serious inflation in the last decade that warrant new notes.

It help with liquidity and balance trade.

Cbn should print it fast. it's long overdue.

100k doesn't fit well in a wallet. For a money that can not buy anything tangible.

it's either we redenominate or introduce higher denomination.

When obj introduced 500 and 1000. Nigeria also shouted. But today it's history.

We need 2000, 5000 and 10,000 as this we reduced dollar dependancy for some people.

1usd is higher than our highest denomination.

Show me the country where their highest denomination is below 1usd.

1 Like

Re: Central Bank Refutes Reports Of New ₦5,000, ₦10,000 Notes by Achor1111(m): 6:56am On Apr 03, 2025

The country is a joke

1 Like

Re: Central Bank Refutes Reports Of New ₦5,000, ₦10,000 Notes by Dronedude(m): 6:59am On Apr 03, 2025

Do not regard this refuting from CBN if a government can change the national anthem, suspend a democratic government, remove subsidy without conscience, owe contractors for more than six months etc. then what is it to add 5k and 10k notes?

1 Like

Re: Central Bank Refutes Reports Of New ₦5,000, ₦10,000 Notes by CorrectionFLuid: 6:59am On Apr 03, 2025

Antoeni:
A serious government who truly wants to fight corruption will withdraw N1000 and N500 notes from circulation rather than considering printing of higher notes to aid corruption.

This was how closing the borders was everybody's favorite economic strategy until Buhari did, and it was proven to be nothing but emotional strategy.

How does withdrawing said denominations fight corruption?
South Korea has 100000 won, and your country is more corrupt than theirs

1 Like

1 2 3 Reply

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