CBN Finally Speak on Introductions of N2,000 5,000; and Arabic Inscription

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The Central Bank of Nigeria, CBN, has denied a purported plan to introduce N2,000 and N5,000 notes in the country

On the heels of plans to redesign a few currency notes, some Nigerians especially on social media had insinuated that N2,000, and N5,000 notes would also be introduced by the apex bank. But the CBN Director of Currency Operations, Ahmed Bello-Umar, during an interview with the Voice of America, Hausa Service on Monday, stressed that the highest currency denomination in Nigeria remains the N1,000 note.

While calling on Nigerians to be wary of fraudsters and fake news peddlers, Mr. Umar said anyone caught with fake bank notes should be reported to law enforcement agencies. “There won’t be any denominations above the N1000 note. Therefore, there is nothing like N2000, N5,000, or N10,000 as being speculated. “The highest value of the naira is still N1000. And for now, there is no reason or plan to increase it.

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