The Central Bank of Nigeria (CBN) has issued an urgent public disclaimer via its official X account regarding images and reports of a purported 5,000 naira note circulating on social media.

The apex bank categorically labeled the content as fake, warning Nigerians that no such denomination has been printed or authorized for use within the country’s financial system.

The bank’s intervention follows the viral spread of digitally altered images showing the high-value banknote, which sparked widespread speculation and concern among the public. The CBN clarified that these images are the handiwork of mischief-makers and scammers looking to cause confusion or defraud unsuspecting citizens.

The statement emphasized that any change to the national currency or the introduction of new denominations would be communicated through formal, official channels and traditional media. The bank urged the public to “let the public be guided” and to stop the further distribution of the false report immediately.

Financial authorities expressed concern that such misinformation could lead to unnecessary panic or provide a foothold for counterfeiters to exploit the public. Citizens are encouraged to remain vigilant and to report any individuals attempting to trade or distribute these non-existent notes to the nearest law enforcement agency.

By swiftly debunking the 5,000 naira note rumor, the CBN aims to maintain the integrity of the naira and ensure stability within the economy. The bank reiterated that the highest legal tender in Nigeria remains the 1,000 naira note, and any claims suggesting otherwise are fraudulent.

The rise of such rumours highlights the ongoing challenge of “deepfakes” and digital manipulation in the financial sector. Experts suggest that these tactics are often used to test public reaction or to facilitate sophisticated phishing scams targeting vulnerable bank customers.

The CBN continues to monitor digital platforms to ensure that accurate information reaches the Nigerian populace. They remind all citizens that the official website and verified social media handles remain the only credible sources for updates on the nation’s fiscal policies and currency status.