The Central Bank of Nigeria (CBN) has dismissed as false a viral image circulating on social media, which purportedly shows a newly introduced N5,000 banknote bearing the image of President Bola Tinubu. The post sparked widespread debate online, with users questioning whether the apex bank had actually released the high-denomination note.
In a statement on its official X (formerly Twitter) handle, the CBN clarified: “This content is fake. Let the public be guided.” The bank emphasized that no such currency has been issued, urging Nigerians to disregard the viral claims.
This is not the first time such misinformation has circulated. In 2025, the CBN also refuted reports that N5,000 and N10,000 banknotes had been introduced to facilitate cash transactions, confirming at the time that the claims were false.
Experts say these viral posts often gain traction due to speculation around Nigeria’s economy and rising inflation, but they can mislead the public and create unnecessary confusion. The CBN continues to maintain that all official announcements about currency changes will be communicated through its verified channels.
The bank’s clarification comes as Nigerians remain attentive to the apex bank’s monetary policies, particularly amid ongoing discussions about cashless initiatives and financial inclusion. Social media users are advised to verify claims before sharing, as misinformation can quickly spread and generate public concern.
Vanguard News reports that the bank urges all financial institutions and citizens to rely solely on official updates from the CBN when it comes to new currency releases.