BY Bonny Amadi
The Central Bank of Nigeria (CBN) has debunked a trending news that it has introduced new N10, 000 and N5, 000 notes into circulation.
A source from the Nigerian apex bank urged the public to ignore such news, describing it as fake while urging members of the public not to be misled by such unfounded, baseless news story.
An online media platform had earlier reported that the CBN has Announced introduction of new N5,000 and N10,000 Notes, respectively.
The fake report dated April 01, 2025, and purported to be signed by Dr. Ibrahim Tahir Jr, Deputy Governor, Central Bank alleged that “In a bid to reduce cash handling challenges, the Central Bank of Nigeria (CBN) has introduced new N5,000 and N10,000 notes featuring iconic Nigerian leaders. The notes will be in circulation from May 1, 2025.”
The fake report which the CBN had urged Nigerians to ignore also said “Nigerians are advised to exchange their old Naira notes at banks before June 30, 2025, after which lower denominations may be phased out gradually” Meanwhile, a cross section of Nigerian Finance editors and Correspondents under the umbrella of Finance Correspondents Association of Nigeria (FICAN) have added their voice to the rebuttal of the report, as they described the fake news on new naira notes introduction as a satanic trap and April fool, while also urging the public to ignore the publication.
They emphasized that the apex bank could not have introduced such new notes without creating public awareness over a prolonged period.
The group members emphasized that even after April 1, many uninformed online publishers have resorted to carrying the story, which makes it imperative for finance editors to sound the warning, for all to ignore such trending story, and treat it as fake news and unfounded.
“That was why the warning was important. I know some may fall for the satanic trap’ said Dr. Obinna Chima, immediate past FICAN chairman.
He further stated that as major stakeholders in the finance sector, the responsibility falls on FICAN to rightly inform the public on developments in the sector of which the fake news on the new naira note is one.
FICAN Secretary Sam Diala, in his reaction to the trending story urged all publishers to ignore such news and treat it as fake. “We have all seen it. Let’s ensure our overzealous Editors don’t buy into the “breaking news”. Publishers on this platform should also help in spreading the message” he had urged.
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