The Central Bank of Nigeria (CBN), has on Tuesday ruled out the introduction of the N5000 note in the country.

Ahmed Umar, CBN’s Director of Currency Operations, made the clarification 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 in Abuja.

President Muhammadu Buhari had last week unveiled the newly redesigned N200, N500, and N1,000 notes in Abuja.

Videos of some bundles of new N5,000 notes with the Central Bank of Nigeria clearly printed on them surfaced on social media went viral few days after the apex bank announced plans to redesign the naira notes in October.

Umar, who was represented at the forum by Amina Halidu-Giwa, CBN’s Head of Policy Development and Currency Operations, said the apex bank was not carrying out note restructuring.

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