The Central Bank of Nigeria (CBN) has dismissed as false a viral claim circulating on social media about the introduction of a new ₦5,000 banknote.
The claim, which gained widespread attention online, featured an image allegedly showing a redesigned currency note bearing the face of President Bola Ahmed Tinubu. The image sparked intense reactions among Nigerians, with many questioning whether the country was preparing to introduce a higher denomination currency.
The photo spread rapidly across major platforms, including X (formerly Twitter), WhatsApp, and Facebook. While some users presented it as an official release from the apex bank, others expressed skepticism and called for clarification.
Responding to the growing speculation, the Central Bank of Nigeria issued a brief statement via its official X handle, categorically debunking the claim.
“This content is fake. Let the public be guided,” the bank stated.
Although the apex bank did not provide additional details, it emphasized that no such ₦5,000 denomination has been introduced into circulation. The clarification is expected to quell public concerns and curb the spread of misinformation.
The incident highlights the increasing role of social media in shaping public perception, particularly on sensitive issues such as currency and economic policy. Analysts note that false information about new banknotes can trigger unnecessary anxiety, especially in a country where monetary changes often have widespread economic implications.
The Central Bank of Nigeria urged Nigerians to rely solely on verified information from its official communication channels. It also warned against the dangers of sharing unverified content, stressing that such actions could mislead the public and create confusion.
This is not the first time the apex bank has had to address such rumours. In 2025, similar claims about the introduction of ₦5,000 and ₦10,000 banknotes circulated widely. At the time, the CBN also dismissed the reports as false and advised Nigerians to disregard them.
Observers say recurring misinformation about currency changes underscores the need for improved digital literacy and responsible information sharing among the public.
For now, the Central Bank of Nigeria has reiterated that there are no plans to introduce a ₦5,000 banknote, urging citizens to remain cautious and verify information before accepting or sharing it.
