:
President Goodluck Jonathan on Thursday finally bowed
to pressure as he directed the Governor, Central Bank of Nigeria,
Mallam Lamido Sanusi, to suspend the planned introduction of N5,000
note.
The Special Adviser to the President on Media, Dr.
Reuben Abati, disclosed the development to State House correspondents in
Abuja.
Abati told journalists that Jonathan’s latest
disposition to the issue was based on the need for more “enlightenment
and consultation”.
He said, “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.”
The CBN, in a statement on Thursday, also confirmed
that it had received a presidential directive to stop action on the
currency restructuring plan.
The statement by the apex bank’s spokesperson, Ugo
Okoroafor, reads, “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.
“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.”
The planned introduction of the note had attracted a
huge outcry in the public domain. Those against the move had hinged
their position on the fact that it could worsen inflation in the
country.
They also said it was contrary to the apex bank’s cash-less policy.
PUNCH
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