FEDERAL GOVERNMENT STOPS INTRODUCTION OF PROPOSED 5000 NAIRA NOTE OPOSED

Federal Government has confirmed it is stepping down the proposed introduction of the  5000 naira note by the Central Bank of Nigeria, Presidential spokesman, Dr Reuben Abati who confirmed this  last night said the move was to allow more enlightenment by the Central Bank of Nigeria.

Dr Abati while responding to inquiries, said “the introduction 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.

Only last Tuesday both the Senate and the House of Representatives passed separate resolutions asking President Jonathan to suspend the introduction of N5,000 saying it is anti-people.

Minister of Information, Labaran Maku earlier in the week however, insisted that there was not going back on the issue but the public outcry brought about the hold on the proposed intorduction.