The Central Bank of Nigeria (CBN) has refuted a rumour that it is proposing to introduce N2,000 and N5,000 notes in Nigeria
Some Nigerians, mostly on social media, had suggested that the apex bank will also launch N2,000 and N5,000 notes in response to plans to redesign a few currency notes.
However, Ahmed Bello-Umar, the CBN’s Director of Currency Operations, denied this. He emphasised that the N1,000 note continues to be the biggest denomination of currency in Nigeria in an interview with Voice of America’s Hausa Service on Monday.
Mr. Umar warned Nigerians to be vigilant of con artists and purveyors of false information, adding that anyone found in possession of counterfeit money should be reported to law enforcement.
“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.
“People should be careful so they don’t get hoodwinked by fraudsters. In fact, if anybody comes to you with such fake currency; we advise people to report them to security agencies,” the CBN Director stated.
Speaking on the debate surrounding the Arabic (Ajami) writing on the naira notes; Mr. Umar urged Nigerians to maintain their composure; stressing that the CBN management would not make any decisions that went against the interests of the general public.
“We are aware that some people have gone to court; some saying it should be removed and the other party saying it shouldn’t be removed. But I want to appeal to everybody to remain calm.
“The management of CBN and even the president will not take a decision that would lead to public unrest. “Everyone should remain calm,” he appealed.
Mr. Umar stated that as soon as the president presents the new naira notes, the CBN will launch a significant campaign to raise awareness of them, particularly among those living in rural regions.
