Information emerging from the Special Adviser to the President on Media, Dr. Reuben Abati, reveals that President Goodluck Jonathan has finally bowed to pressure and directed the Governor of the Central Bank of Nigeria (CBN), Mallam Lamido Sanusi, to suspend the planned introduction of N5, 000 note.
Dr. Reuben Abati, while speaking with journalists in Abuja said that the president is taking this step in order to make further consultations. In the words of Abati, “The introduction of the new note is being suspended for now to enable the CBN do more enlightenment on the issue. 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.”
In confirmation of this development, the CBN has also made an official statement on the request of the president. According to the apex bank’s spokesperson, Ugo Okoroafor, “The CBN hereby informs the general public that the President, on Thursday, September 20, 2012, directed that further action on the approved restructuring exercise be stopped.”
The CBN further cleared the air on the suspicions that the new notes are already printed and have been shipped into the country in preparation for circulation. The statement continues:
“It is important to stress that till date, no contract whatsoever has been awarded by the CBN in connection with the printing and minting of the new currency notes and coins. Consequently, no currency note or coin has been printed or minted under the proposed exercise.”
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