The Central Bank of Nigeria (CBN) has dismissed as false a circulating image of a new N5,000 bank note.
Recent claims on social media suggested that the CBN had released the first sample of a N5,000 note featuring an image of President Bola Tinubu. The now-viral image has sparked a flurry of reactions among social media users.
In response to these claims, the apex bank took to its official X handle (formerly Twitter) to clarify the situation, stating, “This content is fake. Let the public be guided.”
To further investigate the authenticity of the viral image, The Nation subjected it to an AI detection tool, Hive Moderation, which revealed that it contained over 90 percent AI-generated material. This finding indicates that the image was produced by an artificial intelligence (AI) tool commonly used on social media platforms.
Artificial intelligence employs complex computer algorithms to perform tasks typically executed by humans, such as answering questions and writing code.
In 2012, the CBN announced intentions to introduce N5,000 notes; however, these plans were reversed in 2022. Throughout the years, there have been ongoing calls for the introduction of a N5,000 note.
According to Sections 18(a) and 18(b) of the CBN Act 2007, the Central Bank holds absolute power, without the need for legislative intervention, to:
(a) arrange for the printing of currency notes and the minting of coins;
(b) issue, re-issue, and exchange currency notes and coins at the Bank’s offices and through any agencies it may establish or appoint.
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