By Fumilayo Bayo

The Central Bank of Nigeria (CBN) on Wednesday, April 2, 2025, debunked the false news report claiming that it has introduced a new five thousand naira and ten thousand naira banknotes to improve cash transactions.

According to the false news reports, the CBN was set to introduce the new notes to reduce cash-handling costs and improve liquidity management.

Some of these false claims attributed statements to a supposed Deputy Governor, Dr Ibrahim Tahir Jr., regarding the distribution of the new #5,000 and #10,000 notes from May 1, 2025.

In the post on its official X handle, (formerly known as Twitter), the apex bank reported that “the content is not from the centre bank of Nigeria.” The statement also provided the public with the official website of the Central Bank of Nigeria( CBN) — cbn.gov.ng.

The statement which was released from the CBN’s communications department further made clear to the public that “the only official sources for releasing statements to the media are our website or statements from our department. There is also no deputy Governor of such a name. We are investing in the source of this fake content.”

Support ACJ UNIBEN's goal of always bringing truth to light.

Excellent campus journalism requires financial support. Yet, it is this very journalism that contributes to an informed campus community, transparency in educational institutions, and an engaged student body. To continue offering free access to top-notch campus journalism, we invite you to consider making a modest contribution to this worthwhile endeavor. Your support for ACJ UNIBEN's campus journalism ensures its relevance and availability to all students, free of charge, fostering an informed and active campus community.

DONATE