Since the 1 April 2016 there have been several reports published by local online news agencies that a new 50,000 West African franc banknote will be issued into circulation from the 30 April. Included in the reports is an image depicting how the note will look.

However, a statement has been issued by the BCEAO (the Banque Centrale des Etats de l’Afrique de l’Ouest, or the Central Bank of West African States) which issues the currency confirming that the reports are false.

The Bank will not be issuing a new 50 franc banknote on the 1 April 2016, and has said in a press release:

“The Central Bank calls the public to the greatest vigilance regarding exploitation of such information.”

The West African franc is a shared currency used by Benin, Burkina Faso, Guinea-Bissau, Ivory Coast, Mali, Niger, Sénégal and Togo. The highest denomination in the West African franc banknote series is the FCFA10,000 (US $17.37). The FCFA50,000 does not exist but the value would be equivalent to US $87.

For further information, see the authentic circulating banknotes on the BCEAO website.