The Central Bank of Nigeria (CBN) has disowned a viral circular claiming the introduction of ₦5,000 and ₦10,000 banknotes.

The apex bank in a post on its X handle described the circular as “fake” and urged the public to verify information through its official website.

According to the fake circular, the new notes were set to circulate from May 1, allegedly as part of efforts to streamline cash transactions and improve liquidity management.

A Deputy CBN Governor, Dr. Ibrahim Tahir Jr., was falsely quoted as justifying the move to reduce cash-handling costs.

The CBN emphasized its commitment to transparency and accurate communication, warning the public to be cautious of misinformation.