The Central Bank of Nigeria (CBN) says it has no plan to introduce N5,000 denominated banknote as being speculated by some sections of the society.
Ahmed Umar, the Director, Currency Operations of CBN clarified this at a three-day workshop organised by the Nigeria Deposit Insurance Corporation (NDIC), for members of the Financial Correspondents Association of Nigeria (FICAN) and Business Editors.
Umar who spoke on the topic, “Redesign of the Naira: Benefits to the financial system and the Nigerian economy”, said the apex bank was not carrying out note restructuring.
“We are not introducing any new note because there was noise, some people have seen one N5000 note that we don’t know about,” he said.
[The Nation]
