President Jonathan suspends the Introduction of N5000 Note by the CBN
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The Governor, Central Bank of Nigeria, Mallam Lamido Sanusi, was on Thursday directed by President Goodluck Jonathan to suspend the planned introduction of N5,000 note. The Special Adviser to the President on Media, Dr. Reuben Abati, disclosed the development to State House correspondents in Abuja. Abati told newsmen that Jonathan’s latest disposition to the issue was based on the need for more “enlightenment and consultation”. He said, “The introduction of the new note is being suspended for now to enable the CBN do more enlightenment on the issue. In his words, "Yes, President Jonathan has directed that the implementation of the new N5,000 note be suspended for now". “This is to enable the apex bank to do more in terms of enabling Nigerians understand why it proposed it in the first place. So, for now, the full implementation is on hold.” The CBN, in a statement on Thursday, also confirmed that it had received a presidential directive to stop action on the currency ...