Nigeria's New N5000 Note Sparks Mixed Reactions
The announcement by the Central Bank of a new N5000 note has been met with mixed reactions from various quarters with some saying it would aid corruption in the country.
Naira
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Nigeria:
N5,000 Note - Nigerians Say 'No'
Vanguard, 25 August 2012
Plans by the Central Bank of Nigeria to restructure the country's currencies, especially the introduction of N5,000 note, will facilitate corruption, promote money laundering and… Read more »
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Nigeria:
Economics Institute Lauds Senate's Decision On Currency
Daily Trust, 30 August 2012
The Executive Director of the African Institute for Applied Economics (AIAE), Mr. Ifediora Amobi, has lauded the Senate's directive to CBN to suspend the introduction of new… Read more »
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Nigeria:
Currency Review Will Strengthen Payment System
This Day, 30 August 2012
The Central Bank of Nigeria (CBN) has allayed the fears expressed by a lot of Nigerian over plans to review the currency structure. Read more »
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Nigeria:
N5,000 Notes Wrong Signal - Nyagba
Vanguard, 25 August 2012
Dr Solomon Nyagba, the President of Abuja Chamber of Commerce, Industry, Mines and Agriculture (ABUCCIMA), said yesterday that "the denomination of currencies is not the problem… Read more »
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Nigeria:
N5,000 Note Boost for Women, Democracy - Emodi
Vanguard, 24 August 2012
The Special Adviser to the President, National Assembly Matters, Sen. Joy Emodi said on Friday that the image of three distinguished women on the newly approved N5,000 note was an… Read more »
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Nigeria:
ANPP, CPC Say N5000 Note Will Aid Corruption
Daily Trust, 25 August 2012
The planned introduction of N5, 000 notes in Nigeria in early 2013 will not only cause inflation but will also aid corruption, the opposition All Nigeria Peoples Party (ANPP) and… Read more »
InFocus
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As part of a comprehensive currency restructuring exercise, The Central Bank of Nigeria plans to introduce a 5,000 naira note and coin lower naira denominations. Read more »