Claim: Central Bank of Nigeria announces new 5000 & 10,000 Naira notes
Source: Social media
Verdict: False
Researched by Hamza Ibrahim
A viral claim suggesting the Central Bank of Nigeria (CBN) has introduced new naira notes with 5000 and 10,000 denominations has been circulating on Facebook, X and WhatsApp in Nigeria since April 3, 2025.
The new notes bear the images of Dr. Nnamdi Azikwe and Chief Obafemi Awolowo on the 10,000 and 5,000 notes respectively.
Figure 1: Screenshots of claims shared on social media
The posts claim among other guidelines that, “The nationwide rollout will begin on May 1, 2025, with commercial banks instructed to start issuing the new notes via ATMs and over-the-counter transactions.”
This report seeks to verify the authenticity of the claim.
Fact-check
Investigation conducted by FactSpace Nigeria found that the viral claim is entirely false as the Central Bank of Nigeria (CBN) has debunked any plans to introduce any new naira notes.
Responding to the claim on their X handle, the apex bank @cenbank stated, “This content is NOT from the Central Bank of Nigeria. Kindly note that the official website of the CBN is http://cbn.gov.ng”.
The Central Bank also slapped a “FAKE CONTENT” label on the viral WhatsApp message and the prototypes of the two notes.
Fig 2: Photos of CBN’s debunk on social media
Verdict
From the above, the claim that new naira notes have been introduced by the Central Bank of Nigeria is False.
