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CBN Governor Confirms 5000 Naira Note Launch

August 24, 2012 – CBN Governor Confirms 5000 Naira Note Launch

While addressing journalists in Abuja, the governor of the CBN, Sanusi Lamido said that the plan is aimed at enhancing the quality of banknotes, incorporate a more effective feature for the visually impaired as well as reduce cost of production, distribution and disposal of banknotes.

“On the 28 of November 2011, the CBN board considered and approved the new currency structure. It subsequently sought and on 19 December 2011 obtained the approval of his excellency the president Dr Goodluck Ebele Jonathan (GCFR),” Mr Sanusi said.

“Under new structure the existing denomination of N50, N100, N200, N500 and N1000 will be redesigned with added new security features.

“It is our pleasure to tell you that a new high currency denomination will also be introduced. It is the N5000 note.
“In the same vain, the lower bank notes of N5, N10 and N20 will also be coined.

“Consequently, the naira currency structure will now be 12. These are six coins and six bank notes denominations.”
The CBN helmsman said that efforts are on top gear to ensure that the redesigned N50 and new N5000 notes are launched early next year.




    August 25, 2012 at 3:22 AM

    it’s ok

  2. Emus, warri

    August 25, 2012 at 11:51 PM

    Dis is madness in practice. Wat is d rationale behind dis? Is it 2 help our economy or 2 make looting óf our treasury easier? Is dis wat wil tend 2 equate our naira 2 dollar or its by working on our economy? LETS WAKE UP, NIGERIANS! We av a very long way 2 go, especially wt dis selfishness of our leaders.

  3. Caro

    August 26, 2012 at 7:48 AM

    Tank u vry much @ emus,dis is total madness introducin a higher currency wen d nation is bankrupt nd makin emblezment of national fund easier 4 dem,i dont buy dis ideal @al nd it wont help matas @ al

  4. Caro

    August 26, 2012 at 7:51 AM

    Tank u vry much emus,dis is total madness introducin a higher currency wen d economy is bankrupt nd makin emblezzlement of national fund easier 4 dem .dis is totally unacceptable

  5. Marvellous Bush

    August 26, 2012 at 7:37 PM

    To my own humble opinion i suggested that the N5000 note should be launch while the N5,N10 & N20 note should remain where it was. Don’t Touch The Diel!!!

  6. Alozie Jacob

    August 27, 2012 at 7:48 AM

    since there z no way we Nigerians will accept to use coins except 4rm dis method itz definitly ok.plz let de coins light in mass abeg oo

  7. famakinde tolulope

    August 27, 2012 at 5:21 PM

    is the issue of new note the current problem to the ruining Nigeria.
    The loss of value of our Currency enough, shouldnt it be an appetizer to those at stakes, or should we start dancing cbecause a new currency is introduced. This is just the beginning of NIGERIA’S problem if it is accepted.
    Increase in crime rate is just the least on our troubles for the monent, then there will be increase in crime currency later on. Nigerians, Beware, let our old currencies maintain, have value before this new one, dont forget what has happened to 5 naira that easily: what canit buy. The same is coming to happen to fifty naira. beware

    • Lawrence Isaac

      August 28, 2012 at 6:40 AM

      This is madness in highest order introducing the note will not help d economy, and if they think it will why wont the 5000 be coin, rather 5,10,20 introduction of 1000 diminish d value of a naira coin and now 5000. What do you think wil happen 2 the other coin.

  8. yeety

    August 30, 2012 at 7:38 PM

    this is total rubbish our economy will now be low form others cant we upgrade or appreciate our leader put us backward because of the foolish advise and recomendation they are having for us nigerian let us have evolution in our country may be it will be better and remove this follish leaders

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