• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Monday, August 18, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Economy/Technology

CBN not introducing N5000 note

CBN

The Matters Press by The Matters Press
November 29, 2022
Reading Time: 2 mins read
0
Consumer commission, CBN, EFCC investigate violations in money lending

The Central Bank of Nigeria (CBN) says it has no plan of introducing N5,000 denominated bank note as speculated by some sections of the society.

RELATED POSTS

‎Tinubu in fresh ideas to grassroots-development using 8,809 wards initiative – TMSG ‎

‎Obi’s One-Term Proposal, a gambit to grab power at all costs -Group ‎

National Single Window initiative, a major step for efficient cross-border trade – TMSG

Mr Ahmed Umar, the Director, Currency Operations of CBN, debunk the assertion 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.

The workshop which opened on Monday in Port Harcourt has as its theme: “Building Depositors Confidence Amidst Emerging Issues and Challenges in the Banking Industry”.

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.

Umar was represented by Amina Halidu-Giwa, the Head, Policy Development Division, Currency Operation Department of the bank.

He explained that if the apex bank wanted to carry out note restructuring, it would need to coin the lower bills, like the N100 note for example.

He also said that the apex bank had not made any provision for exchange in the redesigned note adding that what it was printing would only replace the currencies withdrawn.

“What we are printing is going to be very limited because we want other means of settling transactions to be used.

“Because Nigerians and cash, there seems to be a problem. And it will give us enhanced visibility and control of the currency

“We will also be able to control the number of banknotes outside ,” he said.

The videos of some bundles of new N5,000 naira notes with the name of the Central Bank of Nigeria clearly printed on them circulated on WhatsApp immediately after the apex bank announced plans to redesign the N200, N500, and N1,000 notes in Oct. 26.

Tags: Naira
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Tinubu explains mission as he marks second year in office
Economy/Technology

‎Tinubu in fresh ideas to grassroots-development using 8,809 wards initiative – TMSG ‎

August 9, 2025
Obi, PDP candidate advises Buhari to increase tempo
Economy/Technology

‎Obi’s One-Term Proposal, a gambit to grab power at all costs -Group ‎

August 7, 2025
Importers face delays, higher costs on Red Sea woes
Economy/Technology

National Single Window initiative, a major step for efficient cross-border trade – TMSG

August 4, 2025
Chatham House stance on Nigeria’s economy, a non-biased assessment of  reforms
Economy/Technology

‎Group celebrates 45% increase in federal revenue in just one month

July 28, 2025
POLICY STATEMENT 027 BY THE INDEPENDENT MEDIA AND POLICY INITIATIVE (IMPI)
Economy/Technology

Alleged Wasteful Turn Around Maintenance (TAM) of Refineries: Setting the records straight

July 25, 2025
Dangote Fertilizer in gas supply deal
Economy/Technology

IMPI seeks forensic audit of refineries from 2000 to 2023 ‎ ‎

July 25, 2025
Next Post
Swiss Bank expects profit of $50bn

Non-Oil Exports fetches $4.987b in 2022

Buhari unveils redesigned naira notes

Naira redesign to encourage expanded financial inclusion, electronic

Recommended Stories

Vulnerable Nigerian farmers to get $1m grant

Agro experts warn farmers on changing weather patterns

February 25, 2023
Trading in Nigerian stock market dips further N83bn

Stock market gains N207bn

February 28, 2023
Buhari presents N8.8trn 2019 budget

Year 2022 budget of economic growth, sustainability on N17.70trn revenue projection – Buhari

October 7, 2021

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • ‎Tinubu in fresh ideas to grassroots-development using 8,809 wards initiative – TMSG ‎
  • ‎Obi’s One-Term Proposal, a gambit to grab power at all costs -Group ‎
  • National Single Window initiative, a major step for efficient cross-border trade – TMSG

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us