Senate Committee Directs CBN To Suspend Introduction Of N5,000 Note-PUNCH Newspaper

Please my brother don't confuse Nigeria turning currency matter to religion.Islamic Bank is for everybody who have interest and not compulsory.

Nawaooooo..... Recently they spent billions of our money to print polymer notes (N10, N20, N50) and now they want to phase them out and introduce N5000 note; may be tomorrow they will phase it out again and print N10,000 or even N1,000,000 so that one packet will be N100,000,000.

Abeg, my fellow country-men, tell me: is the N5000 note the priority issue in Nigerian economy today? What about more pressing issues like: Unemployment, insecurity, bad roads, corruption, power, poor health service, etc....etc...etc... Over 105 million Nigerians live below 1 dollar per day, which means monthly income of less than N5000.

Imagine the insult: your monthly income will be just one note, while the corrupt leaders will carry ‘ghana-must-go’ bags of the same note………. Nigerians wake up and resist these blood thirsty hoodlums called “Our Leaders”

I have spoken

'give a fool rope long enough and he would hang himself'
AS for me, criticizing the CBN governor is not the right way of addressing the issue of the naira. The senate should revisit the constitution and redraft the law guiding the duties and operation of the central bank.

'give a fool rope long enough and he would hang himself'
AS for me, criticising the CBN governor is not the right way of addressing the issue of the naira. The senate should revisit the constitution and redraft the law guiding the duties and operation of the central bank.

Until these have been done, this is just the beginning of the arrogance and mismanagement of the Nigerian Economy.
Looking retrospectively, Sanusi Lamido Sanusi’s plan can be schemed as: kill some banks operated by his enemies; rape the sensibilities of Nigerian with Islamic banking and investments; turn the CBN to a relief organization; vigorously support the removal of fuel subsidy; print 5000 naira note. Can anyone point out a policy that is not inimical to the health of the Nigerian economy!

If the Nigerian senators are serious about the curbing the excesses of the moron called “CBN Governor” they should have read the handwriting on the wall that the current legal framework for the operation of CBN is prone to abuse and a new legal framework similar to CBN Act amendment of 1997.
The Senate and/or the AGF(Attorney General of the Federation) should charge the CBN governor with treason for the all the acts of Economic “Crime”, Gross ineptitude and Mismanagement of the Nigerian Economy ;and get the co-ordinating Minister of the Economy &Minister of Finance(Ngozi Okonjo-Iweala), Minister of trade and Investment(Olusegun Aganga) ,Ministers of National Planning(Samsudeen Usman), Minister of Youth Development(Bolaji Abdullahi) and the Minister of Labour(Emeka Wogu) to testify against him . At least he has no “Immunity Clause” attached to the discharge of his service(s). With subsequent dismissal of the rag head CBN governor.

Close examination of all the actions of Sanusi since his diastrous appointment shows dismal failures and frauds. He took shareholders, banks in the name of sanitisation to revive the real sector but today that sector is worse off. He dolled out taxpayers money to revive the aviation sector and the fund had been diverted by rogues like Jimoh Ibrahim.. Sanusi then fraudulently set up islamic bank to mop up fulani fund from their bedrooms and today no one wants to touch that cancer bank despite the noise. Sanusi's CBN then wanted to force cashless transactions down our throats without supporting infrastructures and till date the process is still crawling and he now want to cause the mockery of that policy by the evil intention ed N5,000 note. Nigerians should rise and demand his resignation. The senate cannot handle this matter as no one trusts them. See the rot perpetrated bu Sanusi in forceful take over of the 3 banks aS disclosed by the house of rep. and yet nothing happened.

ISSUANCE OF N5,000 NOTES
From ages and our past experiences, this gesture has not really helped us.When the last exercise was done sometime during Soludo era, the cost of goods and services jerked, inflation rate increased. Embarking on another project of producing N5,000 note will further worsen the economy situation of our country.

Secondly, the cashless economy introduced with a pilot implementation in Lagos and other selected States is laudable. Am afraid, when the issue of N5,000 came again, is our Central Bank of Nigeria disillusioned? The introduction of N5,000 is purely in contrary to a cashless economy. I don`t expect any project that will encourage use of large cash in a cashless project. Mr Governor, please wake up.

I join majority of Nigerian to resist the introduction of senseless N5,000 notes into our economy. QED

Please you should only criticize the decision made by the CBN not the personality of the Sunusi, because the way you are making comment it indicate that you dont kwow what you are doing.

U are very right. Please tell them. Our leaders are crooks and criminals. Instead of them to work on upgrading the value of naira to match with the dollar. They are thinking of a way to finally loot Nigeria like never before and killing our economy. #5000 note makes it easier for them to embezzle our money. Them be oleeee... Thief...... E no go work

Sanusi came up with Islamic bank that generated a lot of controversy, he had his way, at the end,the policy is more or less a failure. cashless economic policy.As at today, that policy has become visionless. Now,it's N5000 note?May God help Nigerians.

it is a pity that even at this stage of the life of this economy, we cant still take in to cognizance the things that are paramount to the growth of an economy.rather we engage & indulge in wasteful spending of the nation's God endowed resources & wealth. God help US!

It sad and unfortunate that our so called economy policy maker will stiil want to sell us to the western world at this age and time.

It a know fact that the IMF as one time during Soludo adminstration requested Nigeria to devalue their Naira but they were turn down because they could the future is bright for Nigerian.

However, Sanusi and Ngozi have suddenly decide to lick the ass of the western world to inflict us Nigerian with hardship by Introducing policy that will favour the west by so reducing our purchasing power as a citizen of Nigeria. I will advise my fellow Nigerian to make reference to this book " ECONOMIC HIT MAN" By John Perkins. It will reveal behind the secret of all the economic crisis.

But what i believe is that NIGERIA WILL GREAT AGAIN AND NO MAN BORN OF WOMAN CAN STOP THAT. ONE LOVE NAIJA.

y dou like putin entiments wenever national issue is discussed,y is it that wenever a hausa/fulani muslim does somethin u idiots and fools wherever or who u are reign insults and abuses on islam and d northerners? in as much as i dont support sanusis move to print d 5000nr notes d commentators shuld not go beyond sanusi and insult his religion or tribe bcos it has nothin 2 do with that.
Sanusi most ppl have strted losin the trust they have in u.Be careful wo.

A nation can survive its fools, and even the ambitious, but it cannot survive treason from within. An enemy at the gates is less formidable, for he is known and he carries his banners openly. But the traitor moves among those within the gate freely, his sly whispers rustling through all the alleys, heard in the very halls of government itself.
With the Bastardization of the Nigerian state by those in control of state machinery in the Presidency, Oil and Gas, Infrastructure, Transport, Agriculture and now the Financial sector...
Hmmmmmm, God help us!!!

sanusi is not in charge.somebody from othman danfodio region is dictating to this almajirin.economist my foot!

previosly apex bank have try by injecting a huge amount in order to prevent from bank washout with masses deposits by bank parpetrators in which they call themselves as managers. also cashless economy policy is good but changing the other currency in to coins is totally wrong. its more wise to make N50note a highest currency so that people will not hold too much in their hand.

This senator must be stupid to say the least. So your only grouse against introducing N5000 note is that senate has not been briefed? Sanusi will now come before you and speak grammar, after that you will feel a sense of importance and sheepishly approve the introduction not minding the implication it has on the economy. These morons in the national assembly who care more about their ego than the good of the country needs to be boxed out of that place. What nonsense talk!!! "We have not been properly brief" my foot.

Is English your language?

Ask for for the meaning of the arabic inscription before you bother why it revolve round our currency

Ask for for the meaning of the arabic inscription before you bother why it revolve round our currency

I think Sanusi has other motives and he shouldn't play on our senses. A primary objective of the cashless policy would be to discourage people from carrying cash. If N100 note was our highest denomination, anyone who wants to carry N1,000,000 cash would be discouraged from doing so because it is just too bulky and would easily expose you to a lot of risk. However, if N5,000 is the highest denomination, you would only carry two packs of this to have N1,000,000. This is common sense Mallam Sanusi. Your thinking should be to discourage people and not to encourage them if you are sincere with your cashless policy..

Coining the lower notes will likely put them out of use and thereby increase the prices of goods and services. I'd rather they do redenomination of naira and bring back kobo as coins.

Coining the lower notes will likely put them out of use and thereby increase the prices of goods and services. I'd rather they do redenomination of naira and bring back kobo as coins.

The crux of the matter is the implication that this will have on our individual lives and national economy. One of the indices of a GROWING INFLATION, is the creation of Higher Local Currency Bill, NO matter what CBN or the Managers of our economy say, they know too well in their minds. Why are we not emulating Ghana where they just redenominated their currency? Why can't we do same to manage our economy? The answer is clear; if we redenominate THEY will lose the money already stolen and kept abroad. For instance if we redenominate by cutting down two zeros, N1,000 becomes N10 while N100 becomes N1. In a similar way one dollar will exchange for N1.55k. Therefore $100m will be N1.5m. Naira will become stronger against many currencies and stealing money abroad will become unattractive.
Why are we going for higher denomination when CBN is spending billions to promote a cashless economy?

u fool wit opposite education. Arabic is d only language of ur false religion. Despite quorans translatn 4rm arabic to other languages ur mantras and evil meditations are stil heretic when not recanted in d arabic. We know that ur master is an al quaida stooge, a jombie and puppet docilely doin d bids of his nefarious masters. Let him reflect that no man has ever realised immortality. Treacherous fools!

Sanusi seem to have lost the trust of a lot of people by his recent actions and inaction, at a time when he should be helping the economy grow he is busy trying to politicize the CBN as a personal or religious/tribal institution.

Sack this hopeless fool before he runs the nation aground.

u fool wit opposite education. Arabic is d only language of ur false religion. Despite quorans translatn 4rm arabic to other languages ur mantras and evil meditations are stil heretic when not recanted in d arabic. We know that ur master is an al quaida stooge, a jombie and puppet docilely doin d bids of his nefarious masters. Let him reflect that no man has ever realised immortality. Treacherous fools!

Where are the likes of Tunde Lemo and co? I am quite sure Sanusi wound have sought their opinion before drawing his conclusions. Is it that they are just there and are not bothered about the implication of this 'draconian project' on the economy, or Sanusi refused their counsel! one thing i fail to understand is that our leasers see projects as a means of enriching themselves rather than effecting a positive change in our system. Its like they have fail to realise that their antics and tactics are known to us and we will always challenge them. I just wish there advisers will be sincere to tell them their time is up. If we can deal with the 'Kano virus' in this country then, we will forge ahead and if not, its better we go our separate ways. This dominance by a particular group/section of the country must be addressed once and for all!

the senate should shut their stupid clueless mouth, i bet Nigerians should wait and see sanusi addressing them as soon as he speaks small grammar, those imbeciles who rule us will clap for him and ask him to go ahead and do what is in his mind so they can have easier access to steal money. as for sanusi, this is not his plans, he already knows the country is heading for disintegration so him and his folks want to start stock-pilling naira notes so when the country breaks up, he just might be the next president of the new arewa republic with stolen funds