BYE BYE N5000 NOTE . JONATHAN ORDERS SANUSI TO SUSPEND CONTROVERSIAL PLAN

President Goodluck Jonathan on Thursday finally bowed to pressure as he directed the Governor,Central Bank of Nigeria,
Mallam Lamido Sanusi to suspend the planned introduction of N5,000 note.Click on read more below to continue.....

The Special Adviser to the President on Media, Dr. Reuben Abati, disclosed the development to State House correspondents in Abuja.

Abati told journalists that Jonathan’s latest disposition to the issue was based on the need for more “enlightenment and consultation”.He clarified that the policy was merely being suspended, not abandoned.

 

According to Abati, the decision to suspend the policy is to enable the administration to adequately inform Nigerians about the rationale behind the decision to introduce the new note.The two chambers of Nigeria's legislation had passed motions calling on the president to shelve the plan to introduce the N5,000.

In a meeting hastily requested by the President he failed to convince both Senate President David Mark and House Speaker, Aminu Tambuwal to persuade members of the National Assembly to drop their objection to the policy.