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 CBN to introduce N5000 note

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lawalahmed
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PostSubject: CBN to introduce N5000 note   2012-08-24, 10:11

The Central Bank of Nigeria (CBN), on Thursday announced that it is
going to introduce a N5,000 note as one of the country's currency.

The apex bank also revealed that the faces of three prominent Nigerian female activists will be used on the new note.

The activists, which fell under the categories of late politician
and social mobiliser includes Margaret Ekpo (1914 - 2006); late
politician and activist Hajia Gambo Sawaba (1933 - 2001) and late
politician and women's right activist Funmilayo Kuti (1900 -1978).

The CBN governor, Sanusi lamido while speaking with journalist in
Abuja revealed that N5, N10 and N20 will be coined, adding that naira
currency structure will be made 12, comprising of six coins and six bank
notes denominations.

Sanusi further explained that the development was aimed at
strengthening the quality of banknotes, in order to incorporate a more
effective feature for the visually impaired, which will help reduce cost
of production, distribution as well as the currency disposal.

“On the 28 of November 2011, the CBN board considered and approved
the new currency structure. It subsequently sought and on 19 December
2011 obtained the approval of his excellency the president Dr Goodluck
Ebele Jonathan (GCFR),” Sanusi said.

“Under new structure the existing denomination of N50, N100, N200,
N500 and N1000 will be redesigned with added new security features. It
is our pleasure to tell you that a new high currency denomination will
also be introduced. It is the N5000 note.”

The CBN boss said all efforts are geared towards the launching of the redesigned N50 and new N5000 notes early next year.



Last edited by lawalahmed on 2012-08-28, 11:25; edited 1 time in total
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PostSubject: Re: CBN to introduce N5000 note   2012-08-24, 10:23

Absolutely nonsense
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blessonic06
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PostSubject: Re: CBN to introduce N5000 note   2012-08-24, 10:42

Good for the polithieves
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PostSubject: Re: CBN to introduce N5000 note   2012-08-24, 11:19

All their reasons are false reasons
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sunnyga
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PostSubject: Re: CBN to introduce N5000 note   2012-08-24, 12:06

na wa o ! chei!!
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bejs
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PostSubject: Re: CBN to introduce N5000 note   2012-08-24, 13:23

obviouschild wrote:
All their reasons are false reasons


politievians for u.
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Stevolat
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PostSubject: Re: CBN to introduce N5000 note   2012-08-24, 13:47

arrant nonsense
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microsat
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PostSubject: Re: CBN to introduce N5000 note   2012-08-24, 16:54

naija... things are done without proper considerations
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PostSubject: Re: CBN to introduce N5000 note   2012-08-24, 19:13

so d politicians can steal better.This will definitely increase inflation.which nigerian will put a coin in his/her pocket that will be dangling there wherever they go.selfish interest! Guess the days of using big bags to circulate cash among political thieves are over.Brown Envelopes here i come!
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obinabo.urch
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PostSubject: Re: CBN to introduce N5000 note   2012-08-25, 01:51

Dis pple no won mk dis country grow oooo....#5000 note...maka y?
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PostSubject: Re: CBN to introduce N5000 note   2012-08-25, 12:11

O GA GAN OOOOOOOOOOOOOOOOOOOO.
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PostSubject: Re: CBN to introduce N5000 note   2012-08-25, 12:22

O GA GAN OOOOOOOOOOOOOOOOOOO
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austin kofi boakye
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PostSubject: Re: CBN to introduce N5000 note   2012-08-25, 17:24

@obodo wrote:
O GA GAN OOOOOOOOOOOOOOOOOOO


Ki lo ga now ? Make dem chop some now, abi asiko won lode'
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obinabo.urch
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PostSubject: Re: CBN to introduce N5000 note   2012-08-25, 21:37

Weneva dia pockets r dry...dey bring up a stupid project jst 2 refill....dis we country no go eva beta ooooo
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PostSubject: Re: CBN to introduce N5000 note   2012-08-26, 01:14

Selfish ambition
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lawalahmed
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PostSubject: Re: CBN to introduce N5000 note   2012-08-27, 19:43

The Chairman of the committee, Senator Bassey Otu issued the directive while speaking to journalists in Abuja.

Mr Out said that the re-denomination of the currency required the approval of the National Assembly, warning that the CBN must avoid sending the wrong signals to stakeholders in the economy.

He said it was vital for the CBN to discuss the implications of the currency re-denomination with the Senate before it was implemented.

“I believe that a project of this nature requires parliamentary approval because there are numerous fiscal implications on the entire economy.

“The CBN must be very careful in order not to send the wrong signal to the domestic sector and external partners that the Nigerian currency is valueless.

“So, we are sending a letter to them (CBN) to stop all further actions on this until the Senate of the Federal Republic is properly briefed,” he said.

He warned that the conversion of some denominations into coins would lead to a waste of public funds as the previous exercise did not yield the desired result.

“In 2005, the CBN undertook a major currency restructuring to re-coin some denominations which ran into billions of Naira.

“It did not work at all because both the goldsmiths and the blacksmiths converted the coins to moulding bangles, earrings and so on,” he added.

The committee chairman said there were other mechanisms available to the apex bank to tackle the problem of inflation other than the re-nomination of the nation’s currency.




Last edited by lawalahmed on 2012-08-27, 19:58; edited 2 times in total
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PostSubject: Re: CBN to introduce N5000 note   2012-08-27, 19:52

Dat means i can pay my house help wit a single note 4 a month...na wa.anyway e go better.i love nija!
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PostSubject: Re: CBN to introduce N5000 note   2012-08-27, 20:04

Na only god can save us 4rm dis barawo politicians.
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PostSubject: Re: CBN to introduce N5000 note   2012-08-27, 20:23

@austin kofi boakye wrote:
@obodo wrote:
O GA GAN OOOOOOOOOOOOOOOOOOO


Ki lo ga now ? Make dem chop some now, abi asiko won lode'

I'm surprised at your comment, austin. How can dis country change for good if u still have dis kind of mindset? Have you ever consider d selflessness and sacrifices of people like Nelson Mandela, Martin Luther King Jnr., e.t.c.?
Pls have a paradigm shift in d way u reason.
Naija go better
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PostSubject: Re: CBN to introduce N5000 note   2012-08-27, 20:27

For your information people...the Senate has just suspended the proposed introduction of the N5,000 by the CBN....Good move you'll say..correct
At times, I just wonder if Sanusi is not acting some political scripts.
God save Naija.
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PostSubject: Re: CBN to introduce N5000 note   2012-08-27, 22:01

Hehehehe sanusi na puppet wit strings.
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obinabo.urch
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PostSubject: Re: CBN to introduce N5000 note   2012-08-28, 07:14

thats a beta move.....let dem suspend am indefinitely sef
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sunnyga
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PostSubject: Re: CBN to introduce N5000 note   2012-08-28, 10:54

A good decision by the senate
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lawalahmed
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PostSubject: Re: CBN to introduce N5000 note   2012-08-30, 00:50

House summons Sanusi over proposed N5,000 note



In a bid to address the ongoing debate that is trailing the announcement of a N5, 000 note into the Nigerian financial system, the house of representatives has summoned the management of the Central Bank of Nigeria to defend the introduction of the new note.

The Chairman, House Committee on Banking and Currency, Chukwudi Onyereri, speaking in Abuja, said the committee is not clear how the new note will affect government’s cashless policy.

The lawmaker said the committee will meet with the apex bank to ensure that due process is followed and that the interest of the ordinary Nigerian is protected.

The chairman said the committee will take a position on the policy after a full briefing by the central bank.
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PostSubject: Re: CBN to introduce N5000 note   2012-08-30, 04:56

@lawalahmed wrote:
House summons Sanusi over proposed N5,000 note



In a bid to address the ongoing debate that is trailing the announcement of a N5, 000 note into the Nigerian financial system, the house of representatives has summoned the management of the Central Bank of Nigeria to defend the introduction of the new note.

The Chairman, House Committee on Banking and Currency, Chukwudi Onyereri, speaking in Abuja, said the committee is not clear how the new note will affect government’s cashless policy.

The lawmaker said the committee will meet with the apex bank to ensure that due process is followed and that the interest of the ordinary Nigerian is protected.

The chairman said the committee will take a position on the policy after a full briefing by the central bank.
hmmmm.. this ppl no wan rest their case
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obinabo.urch
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PostSubject: Re: CBN to introduce N5000 note   2012-08-30, 07:32

@SmartMobility wrote:
@lawalahmed wrote:
House summons Sanusi over proposed N5,000 note



In a bid to address the ongoing debate that is trailing the announcement of a N5, 000 note into the Nigerian financial system, the house of representatives has summoned the management of the Central Bank of Nigeria to defend the introduction of the new note.

The Chairman, House Committee on Banking and Currency, Chukwudi Onyereri, speaking in Abuja, said the committee is not clear how the new note will affect government’s cashless policy.

The lawmaker said the committee will meet with the apex bank to ensure that due process is followed and that the interest of the ordinary Nigerian is protected.

The chairman said the committee will take a position on the policy after a full briefing by the central bank.
hmmmm.. this ppl no wan rest their case
I tire 4 dis we country ooo....fire is burnin n dey r busy pursuin rat...we ve so mny probs in dis country n som pple r busy plannin an easy way 2 looth
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PostSubject: Re: CBN to introduce N5000 note   2013-03-13, 12:53

Diz 1 na real nonsense oooo. Diz pipu ar really finding evry mean of stealing our money day by day!
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Fishegg45
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PostSubject: Re: CBN to introduce N5000 note   2013-03-13, 14:10

old thread, by d way, al dz av bin cancel by d fg ok
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AWONUSI
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PostSubject: Re: CBN to introduce N5000 note   2013-03-13, 14:23

is beter dis tread 2 b block
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PostSubject: Re: CBN to introduce N5000 note   2013-03-13, 16:44

at a point it was not seen again how did it resurface
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PostSubject: Re: CBN to introduce N5000 note   2013-03-13, 16:47

MODERATOR! DO YOUR WORK
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PostSubject: Re: CBN to introduce N5000 note   2013-03-13, 19:35

I cant believe this trend still breath.
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PostSubject: Re: CBN to introduce N5000 note   2013-03-13, 21:59

Imagine!
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PostSubject: Re: CBN to introduce N5000 note   2013-03-14, 06:13

Bad story 4 nija people becouse of price go rize
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PostSubject: Re: CBN to introduce N5000 note   2013-03-14, 07:29

old thread!, old thread!!, old thread!!!
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PostSubject: Re: CBN to introduce N5000 note   2013-03-14, 11:34

too old
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PostSubject: Re: CBN to introduce N5000 note   2013-03-14, 13:44

@Bammyjoe wrote:
Diz 1 na real nonsense oooo. Diz pipu ar really finding evry mean of stealing our money day by day!
i no one day god will surely punish all of them
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PostSubject: Re: CBN to introduce N5000 note   2013-03-14, 18:45

moderator incharge should close this thread
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