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CBN To Introduce N5000 Note In 2013 by IjeomaObasi: 7:03am On Aug 31, 2012 |
CBN Forges Ahead With Introduction Of N5000 Note The Central Bank of Nigeria (CBN) yesterday said it would forge ahead with the introduction of the N5,000 note next year. http://www.thenationonlineng.net/2011/news/59767-cbn-forges-ahead-with-proposal.html#.UEA2ht-Z7E8.twitter |
Re: CBN To Introduce N5000 Note In 2013 by Makzylopez: 7:20am On Aug 31, 2012 |
Tought senate suspended it. 1 Like |
Re: CBN To Introduce N5000 Note In 2013 by Super1759: 7:34am On Aug 31, 2012 |
I am quite certain that they will introduce it. House of reps and senators are mere toothless dogs that just make noise for the masses to think they know what they are doing. I am yet to seee any invention they stopped 1 Like |
Re: CBN To Introduce N5000 Note In 2013 by inspirenet: 7:41am On Aug 31, 2012 |
Super1759: I am quite certain that they will introduce it. House of reps and senators are mere toothless dogs that just make noise for the masses to think they know what they are doing. I am yet to seee any invention they stopped Let's see how it goes |
Re: CBN To Introduce N5000 Note In 2013 by Biggyd2: 8:00am On Aug 31, 2012 |
Are we surprised? A country where policy makers don't take recourse to people who they make policies for before dumping same on them. A country where a leader "does not give a damn", why won't its subordinates acquire such cliches for themselves? In another News paper the heading for this article is "No going back on N5,000 note, says CBN"http://www.ngrguardiannews.com/index.php?option=com_content&view=article&id=97314:no-going-back-on-n5000-note-says-cbn&catid=1:national&Itemid=559. Are we really in a democracy and the opinion of the masses are not taken into consideration when decisions that concern them are made? Even if the policy maker believes that it is for the good for the citizen? Sanusi and his CBN really are getting quite comfortable with this mantra "No going back on…" In fact in the article, Mr. Okoroafor actually said [b]"... He confirmed that no consultation was made to major stakeholders on the initiative before obtaining the Presidential blessings, but expressed confidence that a successful buy-in by Nigerians would be recorded before next year flowing from the sensitization exercise"(Sentitisation after the policy has been put in place!)]. Who checks the CBN? Why is the trend allowed to continue where CBN is allowed to wake up one day and foist policies on Nigerians? See also [b]Islamic Banking: No Going Back http ://nationalmirroronline.net/news/15417.html and other controversial policies http://newsfrontonline.com/newspub/2012/02/29/gov-lamido-sanusi-and-his-many-controversies/. In the name of everything good and just, is it too much for Nigerians to ask that they be carried along by our leaders when making decisions that concern them? 8 Likes |
Re: CBN To Introduce N5000 Note In 2013 by Acidosis(m): 8:11am On Aug 31, 2012 |
Super1759: I am quite certain that they will introduce it. House of reps and senators are mere toothless dogs that just make noise for the masses to think they know what they are doing. I am yet to seee any invention they stopped Relax your muscle. There wasn't any meaningful reason to stop the CBN in the first place. They only made that gullible move to impress some ignoramus. CBN allowed people to bring in any practical history where such lead to inflation..but nobody tendered any. CBN ask you people to tender your details of the alleged billions of naira meant for printing, but you guys were scared to bring any since you don't have any true fact. Now give me one reason why CBN shouldn't continue with the process.. 1 Like |
Re: CBN To Introduce N5000 Note In 2013 by HammedSodiqq: 8:14am On Aug 31, 2012 |
Wrong move at a very wrong time. National Assembly must kick this N5000 stuff into thrash can period 1 Like |
Re: CBN To Introduce N5000 Note In 2013 by Nobody: 8:17am On Aug 31, 2012 |
#5000 note! Person Papa Salary go dey one note Soon..."" that being said, holding onto the excuse of trying to exterminate the currencies made of polymer by introducing 5k note is just a facticious statement to carry on with their presumed fruitless plan(s). #Reproduce the denominations that are made of polymer into paper notes, and incinerate the polymer. Period. |
Re: CBN To Introduce N5000 Note In 2013 by Nobody: 8:24am On Aug 31, 2012 |
i am just scared that the introduction of 5000 naira notes wil cause a terrible inflation in this country. So if cbn does not regard our policy makers, then the president should say or do smth.... |
Re: CBN To Introduce N5000 Note In 2013 by Super1759: 8:28am On Aug 31, 2012 |
Acidosis:since when do the mass's voice have effects as regards to developments? What happened to their cabals? 1 Like |
Re: CBN To Introduce N5000 Note In 2013 by Nobody: 9:19am On Aug 31, 2012 |
I have decided not to feel bad about these coins issue. But I promise never to touch those fvcking coins with my hands. I hate coins. 1 Like |
Re: CBN To Introduce N5000 Note In 2013 by Nobody: 9:44am On Aug 31, 2012 |
The policy will only benefit banks (lower cash handling costs) and politicians (greater capacity for each Ghana-must-go). How many Nigerians earn N5000 in a month? 1 Like |
Re: CBN To Introduce N5000 Note In 2013 by scholes23(m): 10:07am On Aug 31, 2012 |
Now that's what I call economic madness |
Re: CBN To Introduce N5000 Note In 2013 by awesomet1(m): 10:08am On Aug 31, 2012 |
Billyonaire: I have decided not to feel bad about these coins issue. But I promise never to touch those fvcking coins with my hands. I hate coins.Ever been to Europe? |
Re: CBN To Introduce N5000 Note In 2013 by benkings(m): 10:08am On Aug 31, 2012 |
We dn hear na ! |
Re: CBN To Introduce N5000 Note In 2013 by wandeay: 10:09am On Aug 31, 2012 |
we are waiting, no one to caution one |
Re: CBN To Introduce N5000 Note In 2013 by greall1: 10:11am On Aug 31, 2012 |
CBN,HOUSE & SENATE THEY ALL MAD 1 Like |
Re: CBN To Introduce N5000 Note In 2013 by Makzylopez: 10:12am On Aug 31, 2012 |
Acidosis:1. Are you aware that it will encourage hoarding.because if you have less cash that can be easily concealed,I see no reason for banking it. |
Re: CBN To Introduce N5000 Note In 2013 by free2ryhme: 10:12am On Aug 31, 2012 |
this is madness ... i thot senate suspended the introduction of the N5000 note ... Mallam Lamido Sanusi stop this plan. It will not do us any good. It will only favour the Rich and greedy politicians who have access to the Nation's treasury. "This move to do away with polymer notes he said is consistent with the CBN position of changing with times and technology, saying that “we must move forward and that is why the currency review is important”." The fact is that we emulate only wastage.Why haven't we achieved 4% inflation?Why is the Naira still sliding? Why is our monetary policy at loggerheads with fiscal responsibility? CBN is not acquitting itself very well. 1 Like |
Re: CBN To Introduce N5000 Note In 2013 by Frenchkiss(m): 10:13am On Aug 31, 2012 |
What more should one expect from a cattle rearer 4 a CBN Governor nd a drunkard fisherman 4 a president. SMH! |
Re: CBN To Introduce N5000 Note In 2013 by Yaya6: 10:19am On Aug 31, 2012 |
Acidosis: Very correct bro, The senate are just barking cos they know the introduction is going to further aid their looting. But I know that one day, they will look back and regret all the atrocities they had committed. Just that it will be too late then. |
Re: CBN To Introduce N5000 Note In 2013 by Nobody: 10:20am On Aug 31, 2012 |
All the CBN policies don't always turn out as intended. Listen to this man, "Polymer notes didn't achieve it's purpose" What then is the assurance that the N5,000 notes won't go the same way? Bunch of watchamcalits!!! 2 Likes |
Re: CBN To Introduce N5000 Note In 2013 by ujukala: 10:22am On Aug 31, 2012 |
2013 is a more realistic date. |
Re: CBN To Introduce N5000 Note In 2013 by ENZOSCIFO1: 10:22am On Aug 31, 2012 |
@ Acidosis It is true that there are very few academic research as regards higher note denomination and inflation. However, I can remember working through countless economic research papers that provides evidences of a strong correlation existing between PPP (purchasing power parity) and intoduction of higher currency denominations. Secondly, historically in Nigeria we paid the price of higher deno.intro with inflation, why do any sane person think it will be different now bearing in mind that for almost twenty years our monetary policies under different CBN have practically remained thesame.( |
Re: CBN To Introduce N5000 Note In 2013 by extension: 10:22am On Aug 31, 2012 |
Toothless representatives and senators. Pls can somebody tell me where Sanusi got all these powers from. He said he will never go back.Thats pure military statement.Nawaoo 1 Like |
Re: CBN To Introduce N5000 Note In 2013 by tmed1(m): 10:27am On Aug 31, 2012 |
Frenchkiss: What more should one expect from a cattle rearer 4 a CBN Governor nd a drunkard fisherman 4 a president. SMH! I think u should mind ur speech...remember he's still d President of the country. U should criticize the policies but not insult the individual.Stop applying the principle of Ad hominem. That is what makes a scholar and an educated citizen 1 Like |
Re: CBN To Introduce N5000 Note In 2013 by Reference(m): 10:28am On Aug 31, 2012 |
Super1759: I am quite certain that they will introduce it. House of reps and senators are mere toothless dogs that just make noise for the masses to think they know what they are doing. I am yet to seee any invention they stopped In a democracy power is given not appropriated. What powers have you given the national assembly. But with talk like this you threaten to undermine what little respect they have. Remember the N/A is the closest thing the common man can get to wielding power. |
Re: CBN To Introduce N5000 Note In 2013 by MrGlobe(m): 10:33am On Aug 31, 2012 |
Acidosis:pls shut it. It's basic economics. A 5000 will further devalue the price of Naira against other currencies. it will come with increase in price of goods. how many things can you buy with N10 or N20 today, which partly came with with the introduction of N1000. And CBN should never tell the masses to come up with their own facts, that's stup! d |
Re: CBN To Introduce N5000 Note In 2013 by Nobody: 10:35am On Aug 31, 2012 |
Ijeoma Obasi: Okoroafor said the report that N40 billion would be spent to print the N5000 note is false, saying the cost is in the CBN annual report. If I recall correctly Sanusi said the same thing. Why can't they tell us directly how much will be spent? Do they think that it's every Nigerian that can read annual reports? |
Re: CBN To Introduce N5000 Note In 2013 by rayalesh(m): 10:36am On Aug 31, 2012 |
Polymer notes, he said, are “difficult to destroy, incinerating old currency notes through briquetting was difficult in the case of polymer notes in an environmentally friendly way.” In addition, he said polymer currency “is produced by just one company in the world, an Australian company called Securrency.” The CBN, he said, has tried using polymer currency notes “and decided that polymer is not the way to go. It is time to move in the right direction than to continue in a direction that may not be favourable; it was a decision that didn’t quite turn out well, the whole world experimented with polymer and people thought that polymer was okay until they learnt otherwise. no future planning, I belief we don't research before implementing any policy in this country, wasting of money that should be used to create strong economic and provide jobs for the youth of this country |
Re: CBN To Introduce N5000 Note In 2013 by tekasy: 10:40am On Aug 31, 2012 |
ujukala: 2013 is a more realistic date.the year for them to arrange up for their departure,so they need high denomination to keep more cheese(stolen and bribe money)under their bed... Funny country. Lets senate stop them let me see. |
Re: CBN To Introduce N5000 Note In 2013 by MrGlobe(m): 10:42am On Aug 31, 2012 |
I wonder how someone who read Islamic studies in school was made CBN governor. that was how they defended Islamic banking like it is the future of banking, today it has crashed after barely one year of existence. public funds wasted |
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