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Beware of fake 5000 and 2000 naira notes in circulation amid CBN new notes policy

October 30, 2022

The internet has once again been agog with a video showing a fake 5000 and 2000 naira notes trending on social media after the Central Bank of Nigeria , CBN announced the replacement of some naira notes.

The video first circulated in 2020 and the CBN debunked the 30-second video on the 31st of May 2020 while advising Nigerians to disregard the video and report anyone caught with the fake bank notes to law enforcement agencies.

In the fake video, a female voice in the background claimed that a customer came to deposit the money which she claimed was worth N17million at an undisclosed bank branch where she worked.

Nigeria has eight banknotes and the highest banknote denomination is 1000 banknote.

On the 26th of October 2022, CBN, governor, Godwin Emefiele in a press conference revealed the launch of new banknotes designs.

He said the affected banknotes are; 200, 500 and 1000 naira with no mention of 2,000 and 5,000 naira notes.

According to BBC Disinformation Unit, the current version of the fake banknotes video which was posted on Monday, 24th October by a TikTok user @smartgabriel has gotten more than a million views, over 15,000 shares, 29,000 likes and over 2000 comments

It is however surprising that despite the statement by the CBN in 2020 to disregard the “false” report, the video is trending again on social media this time.