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CBN To Introduce N5000, N2000 Notes

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CBN To Introduce N5000, N2000 Notes

nigerian 5000 Naira note

May 13, 2012 – CBN To Introduce N5000, N2000 Notes

In an effort to reduce high volume of cash baggage and security exposure in cash transactions, the Central Bank of Nigeria may be contemplating the introduction of new currency denominations of N2,000 and N5,000.

Central Bank Of Nigeria To Convert N5-N50 To Coins

Additionally, the Central Bank Of Nigeria has also made plans to convert N5, N10, N20 and N50 into coins which are all presently notes.

The policy would make it easier to move large quantities of cash around with little exposure to risk, but financial critics have suggested that it would be a contradiction to the CBN policy to migrate to a cashless economy.

The spokesperson for CBN, Mr Ugochukwu Okorafor, who spoke to LEADERSHIP SUNDAY, however, said he could not confirm that the bank’s governing board was thinking of introducing two new denominations in addition to the existing ones.

Stay in touch with Naijagists.com for an update

63 Comments

63 Comments

  1. Professor Ikuyinminu

    August 10, 2012 at 2:44 PM

    The issue of introducing a 5000 naira note will only cause the economy dat is supposed to be escalating to collapse totally.Mallam sanusi,think twice

  2. Awodoye Joy Crown

    August 11, 2012 at 3:10 AM

    Stupidity decision

  3. Anudu Emeka

    August 12, 2012 at 2:36 PM

    I strongly advocate dat d introduction of dis new currency can be as a result of the imagance of one world government,because definitely,dis system will bring a total dilema to the world and nigeria pricisely,the economy will be raised down like the walls of babylon

  4. chinonso

    August 15, 2012 at 10:24 AM

    what’s really going on in this our country,is this the transformation?mallam sanusi y,this is now the new method to embezzle our sufferings,Politicians y a u suffering the poor masses?This is a TABULL 2 THIS COUNTRY.

  5. victor sylvanus enang

    August 20, 2012 at 8:29 AM

    it’s not possible,the governor is wiser than that.It’s always good 4 we to find out the authenticity of any information,b4 we start bad-mouthing our leaders.Who is good in Nigeria,if they put u there,u do the worst.The people leading us today,were d same people that were condemning the military.Nigeria is going through a period of transformation,not by man,but by God.Nigeria is going to be fine.

  6. Isaac

    August 20, 2012 at 8:15 PM

    Conflicting policies. Check out this 1 n d cashless fiasco.

  7. usamah

    August 21, 2012 at 10:15 AM

    no shit

  8. Seun

    August 24, 2012 at 12:02 PM

    It is hard enough coping with a clueless person as the president of this country. But it gets even worse to see that few leaders in key places are exact copy of him. Isn’t it clueless enough to introduce a cashless policy which is yet to have a grip, and contemplating on introducing a higher Naira demonination? #Sigh

  9. Kickers

    September 23, 2012 at 10:42 PM

    you guys wanna spoil this nation but god we always be with us. this is a bad ideal from you mad Leaders… you are doing all this shit to save your own bastard money you have

  10. Born 2 lead

    October 25, 2012 at 10:15 AM

    Dis is totally crazy tin dat makes Nigeria go backward as we can see dis is not d next tin our leaders are going crazy dey want to start d tin dat will all people sufer dis is bad opinion

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