Reps order CBN to withhold introduction of N5000 note

…Declares Arunma Oteh’s reinstatement as SEC DG illegal. Channelstv: The House of Representatives in a unanimous resolution on Tuesady, ordered the Central bank of Nigeria (CBN) to hold on the proposed introduction of the N5000 note. The lawmakers in their first session after a long recess ordered the apex bank to withhold the planned release […]

Press Statement: ICAN Opposes Introduction of N5,000 Notes

The attention of the Institute has been drawn to the August 23, 2012 Press Statement by the Governor of the Central Bank of Nigeria (CBN), Mallam Sanusi Lamido Sanusi in which he apprised the nation of the apex bank’s plan to restructure the existing profile and redesign the Nigerian currency for the sum of N40billion. […]

Nigeria 5,000 Naira note: What is Central Bank of Nigeria thinking?

By Emeka Chiakwelu How long will it take Nigerian policy makers to come out from their self imposed bubble and comprehend that policy decision they made can have adverse consequences. We all wake up one bright morning; the next thing we heard was that Sanusi’s Central bank of Nigeria (CBN) will introduce a 5,000 naira […]

Senate bars CBN from introducing N5,000 notes

Senate said it has directed the Central Bank of Nigeria (CBN) to suspend the introduction of the proposed new N5,000 notes until the apex bank fully and convincingly explains to it and Nigerians the merits of the new currency. Chairman, Senate Committee on Banking, Currency and other Financial Institutions, Bassey Otu, who disclosed this while […]


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