Honourable Dino Melaye, a former member of Federal House of Representatives led scores of protesters to the headquarters of Central Bank of Nigeria, CBN in protest against the proposed introduction of N5000 note and coinage of N5, N10 and N20 notes as recently announced by the apex bank.

Dino who led the group of protesters under the aegis of Anti Corruption Network reiterated opposition of Nigerians to the currency restructuring policy of CBN. He told Tunde Lemo, Deputy Governor of CBN who received the protesters that the introduction of a single N5000 note will result in inflation and that Nigerians were opposed to it.

Melaye who described the entire proposed currency restructuring policy as anti people said the CBN Governor must listen to the opinion of the public on the matter. The lawmaker who described the proposed N5000 note as Haram also said it is unfortunate that Sanusi Lamido Sanusi has refused to listen to calls by National Assembly that he should suspend the policy. He vowed to continue to lead protests against the proposed currency restructuring until the apex bank dropped the idea.

While speaking for CBN, Lemo said it is not true that the apex bank will use N40 billion to print the new currency as recently reported in the media. He also said even if the CBN is not introducing the new notes, it will still spend money to print currency. Lemo also said the CBN will not do anything that will not be interest of the masses, while arguing that contrary to popular opinion, the introduction of the new N5000 note will not lead to higher inflation.

The CBN chief however promised that the apex bank will listen to the opinion of the people on the issue. The protest was peaceful as the Police, led by Ade Shinababa, FCT Commissioner of Police ensured there was order.

Photos of protesters at CBN led by Dino Melaye. Photos: FEMI IPAYE
http://pmnewsnigeria.com/2012/09/04/n5000-note-protesters-storm-cbn/

at least, somebody has spoken loud enough!
If not for any other thing, for the records!

While speaking for CBN, Lemo said it is not true that the apex bank will use N40 billion to print the new currency as recently reported in the media. He also said even if the CBN is not introducing the new notes, it will still spend money to print currency. Lemo also said the CBN will not do anything that will not be interest of the masses, while arguing that contrary to popular opinion, the introduction of the new N5000 note will not lead to higher inflation.

Really, why are they refuting what they said earlier? http://www.punchng.com/news/cbn-to-print-n5-000-note-others-with-n40bn/


The CBN chief however promised that the apex bank will listen to the opinion of the people on the issue.

Seriously? The same CBN that said that their was "NO GOING BACK ON THE INTRODUCTION OF N5000 NOTES?https://www.nairaland.com/1036890/cbn-sensitize-nigerians-n5000-note. What ever that establishment is doing, it should just bear in mind that Nigerians are not fools.

Dino melaye is a rebel.......not a nationalist

Sanusi lack d rite qualification 4 dat post,its nt al about degree n degree,once u don't ve sence dat means u don't have,since dis cattle rearer came in a lot of pple ve lost dier job, or s he actin on a script

At least Ppl are Complaininq... Keep The Fire Burninq"

Well let's wait and see how this will turn out.

Hmmmm. Am really in support of the protest. How can some one tell me that 10 naira and 20 naira will be in coins and you will print out N5000 NOTE. That's complete madness

the protest is good if it is not meant to draw attention, cos I know what attention seekers can do.

yeye4live: Sanusi lack d rite qualification 4 dat post,its nt al about degree n degree,once u don't ve sence dat means u don't have,since dis cattle rearer came in a lot of pple ve lost dier job, or s he actin on a script

CIA Script to make sure the economy of Nigeria never stands still and grow. Na God go punish them

I called for the protest on this forum some weeks back.

https://www.nairaland.com/1030089/why-n5000-note-should-kicked

Thank God dino Melaye was courageous enough to take the lead in real life.

Gabriel_sylar: Dino melaye is a rebel.......not a nationalist

At least he is something,what are you?you are NOTHING.

Now, Nigerians can see the big difference between Soludo and Sanusi.
What the hell is the objective of this man. For a day, I never trusted this fellow. Soludo still remain the best the country has ever had. Take a look at his management of the economy, it was robust but what have we now?

I support the protest 100%
Nigerians should keep up the pressure, imagine turning 100 Naira to coin? Mtchewww

The next step they will take now is to declare a nation wide strike.abi masses?

As much as i like that movement,i cant help but think that that man is a politician,and last time i checked those kind of ppl only care for whats going in for them. . .so what if he's doing dat for some political motives. . .

IYA NGBALI: At least he is something,what are you?you are NOTHING.

What do we call a person that talks to NOTHING.......?a mad Witch

I used to think SLS was vibrant in economic policies that improves standard but i was dead wrong, Soludo is far more better, keeping USD @ bay of #120 ad well as other currencies. Why shuld SLS decided to thread d old path Soludo throded? Soludo introduced Coin and was generally rejected! Even banks reject it!

sanusi has lost touch with reality. dey dont feel wat an average nigerian go through. imagine someone dat cant remeber d last time he bought fuel in a car. how can such a man make reasonable policy.

I may not agree with the postulations put forward by the CBN Governor to justify the introduction of the new note but arranging a protest with rented crowd by Dino Melaye is just plain deceit and an exercise in in futility.

I doubt if those protesters can distinguish between Inflation and Deflation in relation to the economy.

Instead of trying to score cheap political point, Melaye should go and shed off his rainment of corruption rather than trying to adorn the robe of a democrat.

Gabriel_sylar: Dino melaye is a rebel.......not a nationalist

Even, if na Boko Haram im be....he is being reasonable to represent, and he did it successfully!
.
A Rebel does the job better than a ''compromising'' Nationalist!

Shaw007: As much as i like that movement,i cant help but think that that man is a politician,and last time i checked those kind of ppl only care for whats going in for them. . .so what if he's doing dat for some political motives. . .

If thats the way all politicians behave we would have a better place. Even if is for polical interest or for personal interest at list he represented our interest. So ride on man i'm solidly behing you.

When d new 5000 naira notes is introduced,Sellers are going to automatically round off goods whose prices are above 4500 to 5000 and d buyers will bear d brunt.The introduction of that note is definately going to lead to inflation. The protest is highly appreciated.

i dont like 5000 naira note but like the coins and why do all these m0r0ns hate coins

people are so stupid....you protest for a new denomination but donot protest when they sell billions of BONDS the real thing that causes inflation is BONDS..............until people wake up we will always be taken for a ride

Dino will soon be silenced like Ribadu..A̶̲̥̅̊ committee chair will do...nice move anyway

The people have spoken. The only legacy our CBN gov'nor can liv behind after dia stay in office is d introduction of a new currency denomination instead of economy strengthening legacies. Otherwise, y wud some1 preach cashless society,yet introduce anoda ridiculous curency denomination? How do they co-relate? What logical sense doz it make? What wud b d need of a higher denomination wen d cashles system kicks off nation wide? I guess its anoda grandiose plan by our visionless & greedy political class 2make laundering evn more efficient. Wit all d 'Ghana-must-go' dat goes in and out of dia offices,we can only fear 4d worst. Wen Sanusi assumed office,a dollar 2d naira was 116naira. Now d naira value plummets evry second. Why dnt he just focus on strengthening d naira and stop heating up d already heated up polity? This is just anoda barbaric show of power by Sanusi. For d record; He'l pass 4d worst CBN gov'nor since independence.