Jonathan Agrees To Reverse N5000 Note Plan – Premium Times

PRESIDENT Goodluck Jonathan President Goodluck Jonathan has agreed to reverse his administration’s plan to introduce the 5000 naira note.

The currency restructuring, announced by the Central Bank of Nigeria, would have seen the unveiling of the N5000 as the highest naira denomination while lower currencies were to be converted to coins.

Weeks of public outrage criticizing the policy culminated in the Senate and the House of Representatives, approving separate resolutions on Tuesday, demanding that the plan be suspended.

Mr. Jonathan met with the leadership of the two arms hours after the National Assembly sessions on Tuesday and assured that any “approval given in the regards can be reversed since it is the wish of the people,” lawmakers informed about the decision said Wednesday noon.

It remains unclear whether the president has issued a directive to that effect.

More details later….

  1. Folagbade Adu Reply

    The flagrant show of shame by malam Sanusi is heartbreaking,all over the world ,we got acclaimed economist from best institutions managin the western countries aconomy policy,even at that,the world is in a mess of recession.My knowledge of IT teaches me that history is the best precondition for another step,from history,coins spending is more or personality,the idea of introduction of coin will never work,Sanusi said coin dispensing machine,with my exposure so far in the western world,i have never come across such,he shud stop taking d populace for a ride,i have since lost my respect for president Jonathan for staying ths long b4 making a speech on ths issue,

  2. Ogbeide Matthew Esosa Reply

    It is well.

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