CBN Refutes Report on New N5000 and N10000 Banknotes

 CBN Refutes Report on New N5000 and N10000 Banknotes


The Central Bank of Nigeria (CBN) has officially refuted circulating reports that new N5000 and N10000 banknotes are being introduced into the market. The institution categorically denied the claims, urging the public to rely on verified sources for updates on currency matters.

Clarification from the CBN

In a recent statement, the CBN emphasized that there is no basis for the recent reports suggesting the issuance of new high-denomination banknotes. Officials clarified that these reports are unfounded and do not reflect any ongoing or upcoming currency redesign or replacement plans. The bank reiterated its commitment to transparency and cautioned citizens against misinformation that may create unnecessary confusion.

Public Concerns and Misinformation

The unfounded report has sparked discussions among the public and financial stakeholders, with many expressing concerns about potential implications on inflation and economic stability. However, the CBN's clear denial aims to dispel these fears and confirm that the current currency system remains unchanged.

Ongoing Commitment to Economic Stability

The CBN’s statement comes amid a period of heightened sensitivity to economic news and policy changes in Nigeria. The institution reiterated its dedication to maintaining financial stability and ensuring that all monetary policies and updates are communicated directly through official channels.

Conclusion

The Central Bank of Nigeria has firmly put an end to the circulating rumors about the introduction of new N5000 and N10000 banknotes. Citizens and investors are encouraged to follow official CBN announcements and reputable news sources for accurate information. The bank's proactive stance on misinformation highlights its commitment to safeguarding economic stability and ensuring public trust in the nation’s monetary policy.

For more updates on financial news and official statements, stay tuned to verified sources and the CBN’s communication channels.

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