The Central Bank of Nigeria (CBN) has dismissed as false and misleading, claims circulating on social media that it has introduced N5,000 banknotes bearing President Bola Tinubu’s image.
In a post via X (formerly Twitter) on Thursday, the apex bank clarified that no such denomination has been designed, approved, or released into circulation.
The CBN described the viral image of the purported N5,000 note as “fake content” intended to misinform the public and cause unnecessary speculation about the country’s currency structure.
The image, widely shared across messaging platforms and social media, depicts a redesigned high-value naira note featuring the portrait of President Tinubu.
However, financial authorities insist the design does not correspond with any official currency series approved by the CBN.
The Bank urged Nigerians to rely only on verified information from its official communication channels and to disregard unverified claims about monetary policy or currency redesign.
It also warned that the spread of false financial information could undermine public confidence in the nation’s currency.
Economic analysts note that while discussions around higher denomination notes have surfaced periodically due to inflationary pressures in Nigeria, any such move would require extensive policy review, stakeholder consultation, and formal announcement by the CBN.
As of now, the highest denomination in circulation remains the N1,000 note, and the apex bank reaffirmed its commitment to maintaining currency stability and public trust in the financial system.