The Central Bank of Nigeria (CBN) has alerted Nigerians to claims circulating online that it has unveiled a new N5,000 banknote bearing the image of President Bola Tinubu.
RoundReports learnt that the rumour, fuelled by a digitally altered image shared widely on social media, sparked heated reactions among users.
However, the apex bank, in a statement posted on its official X account on Thursday, clarified: “This content is fake. Let the public be guided.”
The controversy comes against the backdrop of past debates over higher denomination notes.
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In 2012, the CBN announced plans to introduce a N5,000 note, but later abandoned the proposal in 2022.
Calls for such a denomination have resurfaced periodically, often linked to inflationary pressures.
Under Section 18(a) and 18(b) of the CBN Act 2007, the bank holds exclusive authority to print, issue, and regulate Nigeria’s currency without legislative approval.
For now, the CBN has reiterated that no such N5,000 note exists, urging Nigerians to disregard the misleading image and rely only on official channels for currency updates.