The Central Bank of Nigeria (CBN) has dismissed as false a viral image circulating on social media purporting to show a newly introduced ₦5,000 banknote.
The image, widely shared online, claimed that the apex bank had released a sample of a ₦5,000 note featuring the portrait of President Bola Ahmed Tinubu, sparking widespread reactions among users.
However, the CBN debunked the claim in a post on its official X handle, formerly known as Twitter, stating: “This content is fake. Let the public be guided.”
Further checks using an artificial intelligence detection tool, Hive Moderation, indicated that the image contained over 90 percent AI-generated material, suggesting it was digitally fabricated.
Artificial intelligence tools use advanced algorithms to generate images and content that can appear realistic, contributing to the spread of misinformation on social media platforms.
The development comes amid renewed public discussions around the possibility of introducing higher denomination currency notes in Nigeria.
The CBN had, in 2012, announced plans to introduce a ₦5,000 note, but later shelved the proposal in 2022 following public criticism and policy reconsiderations.
Over the years, there have been recurring calls from some stakeholders for the introduction of higher denomination notes to reflect economic realities.
Under Section 18(a) and (b) of the CBN Act 2007, the apex bank retains exclusive authority to print, issue, re-issue, and manage the country’s currency, including the design and circulation of banknotes and coins.
The bank has therefore urged the public to disregard the viral image and rely only on official communications for accurate information regarding Nigeria’s currency.
