A show down is looming between the National Assembly and the Governor of the Central Bank (CBN), Mallam Sanusi Lamido Sanusi over his insistence to introduce the N5000 banknote. The two chambers are due to resume from their annual recess on Tuesday with members determined to stop the introduction of the new banknote. Influential members […]
By Paul I. Adujie | New York, USA | Sept. 15, 2012 –The introduction of Five Thousand Naira as a single currency note, will exacerbate already existing pressures on Nigeria’s long beleaguered national currency. It is sadly the case that Ghana, Haiti and Jamaica national currencies have better strength and international respect compared to the […]
By Emeka Chiakwelu | NNP | Sept. 15, 2012 – 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 Sanusis Central bank of […]
The Governor of the Central Bank of Nigeria, Mallam Lamido Sanusi, on Tuesday, described former President Olusegun Obasanjo as “a very bad economist.” Sanusi, at the sixth annual conference of the Chartered Institute of Bankers of Nigeria in Abuja, said Obasanjo misinterpreted the impact of the proposed N5000 note on the economy when he […]
The Central Bank of Nigeria has said that it will be illegal for banks to compel their customers to accept the N5000 note when it comes into existence.. The apex bank, which denied allegations that it was forcing the new structure of the naira on Nigerians, said customers could reject N5000 note from banks “I […]
BY HENRY UMORU ABUJA— DESPITE criticisms that have been trailing the proposed introduction of a new N5,000 note by the governor of Central Bank of Nigeria, CBN, Mallam Sanusi Lamido Sanusi, Conference of Northern States Chambers of Commerce, Industry, Mines and Agriculture CONSCCIMA, weekend threw its weight behind it. Speaking with newsmen, Chairman of the […]
Jumping from one inconclusive economic and political issue to another appears to be a factor that is fast defining the Presidency of Nigeria’s Dr. Goodluck Jonathan. The latest move of the Central Bank of Nigeria, CBN to convert the current N5, N10 and N20 notes to coins and also step the currency note to N5,000 […]
Founder and President, Oodua Peoples Congress, Dr. Frederick Fasehun, says the planned introduction of N5,000 note will encourage money laundering. Fasehun said this during a media roundtable in Lagos on Wednesday. According to him, imposing the new note on Nigerians would not augur well for the security and social life of the people. Fasehun said, […]
By SONI DANIEL ABUJA— As the controversy over the planned introduction of N5000 note deepens, a Peoples Democratic Party, PDP, lawmaker, Senator Ita Enang, has accused the Central Bank of Nigeria Governor, Sanusi Lamido Sanusi of plotting the fall of President Goodluck Jonathan with the ignoble plan. Many Nigerians have kicked against the move by […]
99 Comments | credits: Civil society groups have started mobilising their members in preparation for a mass protest, should the Central Bank of Nigeria insist on implementing the planned currency review. Leaders of some of the groups, who spoke to SUNDAY PUNCH, said they had started meeting to examine the issue and to devise the […]
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