President Tinubu Will Not Unveil New Currency: Viral #5,000 Note Is Fake, Says CBN
The Central Bank of Nigeria (CBN) has warned Nigerians about a viral image circulating on social media that falsely depicts a proposed N5,000 banknote.
The image, which features the photograph of President Bola Tinubu, has been widely shared across various platforms, fueling speculation about the possible introduction of a higher denomination currency.
However, the CBN has dismissed the claim, stating clearly that the content is not authentic and should be disregarded.
“This content is fake. Let the public be guided,” the apex bank said in a brief statement.
The clarification comes amid recurring waves of misinformation surrounding Nigeria’s currency management and the central bank’s monetary policy decisions.
The CBN has consistently advised Nigerians to rely only on its official communication channels for accurate information regarding currency redesigns and policy updates.
This is not the first time such misinformation has surfaced. On April 2, 2025, the apex bank also debunked a widely circulated circular claiming that new N5,000 and N10,000 notes would be introduced into circulation from May 1, 2025.
Similarly, in February 2023, the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA) suggested that the CBN could have introduced a N5,000 note as an alternative to the controversial currency redesign policy at the time.
Sola Obadimu, former director-general of NACCIMA, argued that introducing a higher denomination could have helped reduce the volume of cash in circulation without the disruptions caused by the redesign exercise.