The New 5000 Naira Note (N5000) Prototype Picture

5000 naira note nigerian bill

August 26, 2012 – The New 5000 Naira Note (N5000) Prototype Picture

For those who are not aware, the Central Bank of Nigeria, CBN has confirmed the introduction of 5000 Naira currency note / bill into the Nigerian economy. naijagists.com

And the faces on the newly introduced 5000 Naira bill are:

  • Margaret Ekpo (1914 – 2006), a late activist and politician politician
  • Hajia Gambo Sawaba (1933 – 2001) , a late politician
  • Funmilayo Kuti (1900 -1978), the late women right activist

This confirmation was made by CBN Governor Lamido Sanusi last week and the photo above is a prototype of it.

Do you support this move?

Do you think the new 5000 Naira note will worsen the economic situation in Nigeria?

82 thoughts on “The New 5000 Naira Note (N5000) Prototype Picture

  1. The situation of this country is bad,and again the introduction of 5000 note is coming 2 this nation,i think the government knws abt it,cos dats is another means of fraud…………eaziest way 2 take huge amount of money,and i knw all days 4 the thieves one day 4 the owner………God helps us…….cos the money is of no use.

    • Up Nigerian for bring out a big money 5,000 Naira note is just easy for them …well that is not the problem we are having there in Nigeria.

  2. The introduction of 5000naira in a single note isn’t Nigeria’s priority for economic development presently. The disadvantages outweighs d advantages. There is a high possibility for d note to cause a huge inflation,this will nt only cause a great drop in the standard of living of people but a simultaneous high cost of living/survival.
    Unemployment is already on d high side, with a lot of qualified people either unemployed or underemployed.

    The introduction of d note will nt only increase corruption,money laundering and d rest but it will also increase the number of armed robbers in d country as a lot of helpless/desperate/jobless/sufferring/ poor/coveteous Nigerians will b introduced into d act,but remember, as we speak armed robbery is also on d high side.This plan won’t help our cashless policy! I then begin to wonder, what does d Nigerian government want to achieve with dis plan. It is definitely nt our priority.Perphaps, there are hidden motives to dis plan.Its so obvious if not, y wnt u want to listen to the majority?
    Nigeria is in a troubled state and our govt r yet to restore that peace and assurance but all they can do is to come up with plans that doesn’t help matters under d name of a 5000naira note for a cashless country.smh.
    In all of dis, d children of the most high shall live in abundance because it has been written…

  3. It will worsen the economy of Nigeria. If any person will give you 5 merit of it then another will give u 50 demerit of it. What i mean there is, it advantage is far far less than its disadvantages . The 2 main disadvantages of it are: (1). It will lead to inflation , in this case it will be of favour to rich and firms but the poor get poorer due to there income. (2). It will help the politician to steal large amount of money will. Am waiting for any comment or correction from any person. Thanks …

  4. Don’t u know dat d new 5000 naira note will add 2 d ecomical problem of nigeria, it might hav been so nice if those pple doesn’t plan 2 change 10, 20, 50 and so on 2 coins, do thet know dat pple in nigeria doesn’t spend coin, they no but they are all engaged in d act of stealing

  5. God wil punish all d people wu are in d suport of dis new 5000 naira note. Dis is anoda way of stealing nigeria money. Infact dis a d ways dat kidnapperz wil b finding to be kidnappin people. Nigerian people don’t let us agree wit (CBN bank) bcos dis is anoda way of corruption. GOD have mercy upon Nigeria.

  6. God wil punish all d people wu are in d suport of dis new 5000 naira note. Dis is anoda way of stealing nigeria money. Infact dis a d ways dat kidnapperz wil b finding to be kidnappin people. Nigerian people don’t let us agree wit (CBN bank) bcos dis is anoda way of corruption. GOD have mercy upon Nigeria. Nigeria government help we nigerian out.

  7. THIS IS A MUST READ FOR NIGERIANS…

    I sympathize with you my brothers, i have always been quiet but i think this has gotten to its peak and today i am going to expose why our Government keeps printing new notes and increasing currency denomination. Most Nigerians assumes that the Government prints new notes and increase denomination because it makes looting easier “THAT IS NOT TRUE, IN FACT THAT IS EXACTLY WHAT THEY WANT YOU TO THINK AND THE MORE REASON WHY THEY DON’T WANT YOU TO GO TO SCHOOL SO THAT YOU DON’T UNDERSTAND THEIR STRATEGIES AND INTERFERE OR CHALLENGE THEM…” They don’t need the notes to loot and the increase of currency denomination has nothing to do with devaluing of currency… It’s just a strategy, a reason to print new notes… This process is called “Fractional-reserve banking”… DO WE HAVE AN ECONOMIST IN THE HOUSE? Point me out if I am wrong… This is another Government plot to make more money out of the poor masses to feed their invisible debts they allegedly owe to CBN/IMF who created the money out of nothing. I will try to explain this… In business there must be a balance between demand and supply to maintain equilibrium in the price of a commodity… If demand is higher than the supply, price increase and when the supply is higher than the demand, price decreases… For example, a commercial transporter will normally charge 100 Naira from Mile 2 to CMS… But when there are too many passengers (HIGH DEMAND AGAINST SUPPLY) the transporter increases his fare from 100 Naira to 150 Naira… Now when there are only a few passengers (LOW DEMAND AGAINST SUPPLY) the transporter decreases his fare to win passengers…

    For your information, there is nothing like cash/bank notes in CBN, CBN does not print money neither does it transact in cash… However, the money they allegedly loan to the Federal Reserve is just a bunch of numbers sent to the Federal Reserve account using a computer (Digitally transferred)… We should all be aware that this numbers they called LOANS given to the Federal Reserve are not notes, they are mere numbers… Now the CBN requires the Federal Reserve Agency to pay a high interest rate on the invisible money they loaned… Let us assume that the CBN loaned 100 Billion Naira to the Federal Reserve. Do you know that the Federal Reserve is required to pay back 100 Billion Naira + an interest of 90 Billion Naira which is 190 Billion Naira…? I guess you are surprised now… And how does the Federal Reserve pays that money back…?

    When i talk about the Federal Reserve, most people still believe that the Federal Reserve system is an agency of the Government working in our best interest… But it will surprise you if i tell you that our Federal Reserve System is a group of Private bankers who have stolen the money creation process from the Nigerian people… By the time I am finished you will understand why these private bankers are responsible for the creation and circulation of our money… And who gets the fall for all the problems from the top… THE COMMON MAN… Now Let me explain banking to you in a simple term, it is more complex but with this, I think you can get an idea of what I am trying to say…
    Now let’s take it that the CBN just loaned to the Federal Reserve 100,000,000,000.00 Naira (100 Billion Naira) in numbers which is then printed into some small pieces of hard paper with some funny images and writings on it and they call it “MONETARY BONDS”… These bonds may be 10 Billion per bond… 10 Pieces of these bonds will be equivalent to the 100 Billion Naira loaned to the Federal Reserve by the CBN… The Federal Reserve agency then takes this bonds and deposit it into a commercial bank hoping to get an interest on the amount deposited ( After all when you deposit a certain amount in a bank over a period, you get interest on it right? That’s what the Fed just did) the commercial banks then take these bonds back to CBN to get approval to print naira notes… Of course at their own expense they PRINT our Naira notes and call it “Legal Tender”… We all believe that our money is only printed by the Nigerian Security Printing and Minting Plc. (NSPM). That’s not true; in fact it’s funny to me… Money can be printed by any other company as long as it meets our security demand (If in doubt please check the CBN police on currency)… The commercial bank now have 100 Billion worth of naira notes, and they are hungry to do business to recover their cost of printing, make their interest and repay the Fed, so they give these notes out to the Nigerian people as loans… On the other hand, the Federal Reserve agency can’t wait to get their return so that they can settle their debt and make their own profit… The CBN also cannot wait to get their digital money from the Fed and make their profit too… So who bears the burden..??? Who borrows the cash? Who works his ass out to pay back in cash? The Common Nigerian…

    He innocently walks to the bank, borrows cash to do business… Business becomes bad, he cannot pay back… Bank cash gets stacked in his products, bank note circulation becomes paralyzed, inflation increase… Since there is no cash in circulation, the balance of demand and supply sets in… When there is High demand of cash and these is little or no cash… “Prices increase”… Banks becomes indebted to the Fed; The Fed becomes indebted to CBN/IMF… Currency becomes devalued against the country you borrowed from… That is the way it works because CBN also borrows his monetary numbers from somewhere… And guess what our Government does to settle the problem?? Our Government goes ahead and borrows more money from the CBN/IMF, that is, they just ask the commercial banks to print more notes and they give us some excuse to cover up the reason why they are printing new notes… More cash = More debt… 1 Naira = 1.90 Naira debt… And you and i are going to work our ass out to pay the Government’s debt… Isn’t this core economics..??? It’s called “DIGITAL MONETARY SYSTEM”

    EXAMPLES OF A DIGITAL MONETARY SYSTEM:

    Spain owes $1 Trillion to France, Britain and Germany.
    Italy owes $1 Trillion to France, Britain and Germany.
    France, Britain and Germany owe other European Economy over $16 Trillion
    Spain still owes Italy (A broke economy) $1 Billion Dollars…
    Italy owes Spain (Another Broke Economy) $27 Billion…
    Wait a minute; i thought they were broke…. Can someone please put on his/her critical thinking cap…? How can a broke economy borrow from another broke economy that haven’t got any money because they can’t get back the money broke economy lend to the other broke economy… They shouldn’t have lent them in the first place because broke economy do not have any money… Where do they get this money from..? The answer is right in front of you… simply because the money is invisible… Digital monetary system… Hehehehehehe Education is Power

    PART 2:

    Now this is where it gets very interesting… (JUST SEE WHAT EDUCATION CAN DO)

    In 2007 the Central Bank of Nigeria chooses to amend its constitution and our legislative arm of the Government and even the president could not understand this plot or they are a part of it… I think i am going to write out the amended act here…

    CBN Act, No. 7 cap 1 (1): There is established for Nigeria a body known as the Central Bank of Nigeria (herein after in this Act referred to as “THE BANK” {That is they refer to CBN as “THE BANK”) This is a sneaky way of confusing unaware Nigerians that they are referring to some other banks meanwhile they are referring to the CBN. Now read further.

    CBN Act, No. 7 cap 1 (3): In order to facilitate the achievement of its mandate under this act “THE BANK” (CBN) and other financial institutions Act, and in line with the objective of promoting stability and continuity in economic management, “THE BANK” (CBN) SHALL BE AN INDEPENDENT BODY IN THE DISCHARGE OF ITS FUNCTION. {I bet no one reviewed this constitution before approving of it or maybe they didn’t understand what they read or this is another conspiracy… Here CBN just asked that it should be independent of itself… No more a Government body… CBN can only answer to the Presidency and no one else… Not even to the Vice President} Now read the Act 6

    CBN Act, No. 7 cap 6 (1): There shall be for “THE BANK” (CBN) a board of directors WHICH SHALL BE RESPONSIBLE FOR THE POLICY AND GENERAL ADMINISTRATION OF THE AFFAIRS AND BUSINESS OF “THE BANK” (CBN). {Now the CBN just created a Board of Directors (A group of people to supervise the operation of the CBN} now read another sneaky quote.

    CBN Act, No. 7 cap 6 (2): The board of Directors shall consist of:

    (a) A GOVERNOR WHO SHALL BE THE CHAIRMAN {most people don’t get this part straight- The Governor of CBN is Sanusi Lamido, and the Chairman of the Supervising team shall be the Governor (Sanusi Lamido)… That is: The CBN Governor Sanusi Lamido will be the head of the supervising team, supervising himself… hehehehehehehe) Now read the funniest of the constitution.

    CBN Act, No. 7 cap 6 (3): The Board of Director shall be responsible for –

    (d) MAKING RECOMMENDATION TO THE PRESIDENT FOR THE APPOINTMENT OF AUDITORS in accordance with section 49 of this Act the provision of the necessary facilities and the rates of remuneration. (This means that Sanusi Lamido also will be the one to appoint an auditor for the president to cross check the affair of the CBN) WTH… (He alone controls the CBN, Supervise it, and yet audit it… I guess he should just be the CEO of CBN) and i can’t believe the legislative signed this amendment {Did Hon Patrick Obahiagbon read this and not understand???} hehehehehe…

    Our country is being run by the banks; we should start thinking outside the box… And i must warn Nigerians, please stop watching TV, it’s a complete hoax… The news you hear on TV have been edited and you only hear what the Government wants you to know… The media is a part of the Government and even those multinational companies you know, they run the Government not the president… That is why they keep bringing you all kinds of entertainment like MTN Project fame, Multina dance hall, Soccer, Music Africa, Nigezie, who wants to be a millionaire and all kinds of entertainment to keep your mind busy and away from their business, all because they don’t want you to develop critical thinking skills…. (How do you think the Government sponsors their billion naira elections and campaigns? Of course the banks and multi-national companies support and the devil doesn’t give anything for free)… Who said the Government doesn’t have money to improve our educational system? They don’t want you to go to school so that you stay away from their business… Have you ever checked how much it cost to maintain the prisons in Nigeria…? That money would improve education in Nigeria 6 times over the British standard…

    AND FOR THE RECORD, I am a Nigerian by birth and i am a PhD student of London School of Business & Finance, ID Number: LSBFPD – 022371. Anybody can verify my identity, I don’t care who comes after me… Let’s think together and think outside the box, we all need to be informed… Thank you.

    Gerald

  8. My friend u people are joking what do u mean by saying that it isn’t good by bringing out a 5000 naira note. Ya it would bring corruption nd stealing in d country, bet it is by upgrading d country. Lets take a look at d USA currency, they have a 100 dollar note which is 15000 naira over here in nigeria the still don’t value dat note. My dear people of nigeria d idea of the 5000 naira note is good. Before the foreign countries depriciated us in value bet i think with this the would Nigeria is improving nd growing.

  9. God shall punish whosoever came up such initiative. To restore d glory & virtue of our currency, #20 should be highest naira denomination. 4 d thieves that are always hunting our nation resources, infant, a day shall come when Almighty Allah shall probe them & they shall have no where to hide.

  10. If the Federal Government tends to allows the circulation of #5000, it would affect the economy adversely by stimulating rapid currency devaluation.

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