CBN denies claims of printing the ₦5,000 Note (Naira Redesign)
The Central Bank of Nigeria (CBN) has come out to deny the claims of printing ₦5,000 notes. They said there’s no plan to introduce this particular naira note and this happened after the naira redesign.
It was the director of currency operations of the Central Bank of Nigeria in person of
Ahmed Umar, who addressed this issue to clear the air. He said this on Tuesday, 29th of November in Port Harcourt.
He mentioned that some people have claimed to have seen the printed N5,000 note while there have been no such. He claims they aren't introducing any new notes, they only redesigned the existing notes.
Umar was represented by Amina Halidu-Giwa, Head of Policy Development at CBN Currency Operations Department.
The official said designing the N5,000 note would mean that lower bills like the N100 note would become coins.
He also added that the notes they are printed are limited because they are trying to ensure a smooth change to alternative means of transactions.
The Central Bank of Nigeria (CBN) has come out to deny the claims of printing ₦5,000 notes. They said there’s no plan to introduce this particular naira note and this happened after the naira redesign.
It was the director of currency operations of the Central Bank of Nigeria in person of
Ahmed Umar, who addressed this issue to clear the air. He said this on Tuesday, 29th of November in Port Harcourt.
He mentioned that some people have claimed to have seen the printed N5,000 note while there have been no such. He claims they aren't introducing any new notes, they only redesigned the existing notes.
Umar was represented by Amina Halidu-Giwa, Head of Policy Development at CBN Currency Operations Department.
The official said designing the N5,000 note would mean that lower bills like the N100 note would become coins.
He also added that the notes they are printed are limited because they are trying to ensure a smooth change to alternative means of transactions.