On the failed attempt by the
CBN to introduce the N5000
currency note into the Nigerian
economy, the Mallam Sanusi
said even though he was
convinced that it made economic sense to print the
higher denomination, he
would not revisit the matter. Said he, “ On 5000 Naira note I
have said I would not revisit. I
made all the arguments at the
time I made them. You have
had inflation in double digits
for a very long time, this has weakened the purchasing
power of the national currency
and therefore means you are
carrying much more currency
than you need to carry to carry
out your transaction. “You go to an ATM, you want
N100,000 you have to take 100
notes, those notes have a cost
and printing those notes you
are paying for the paper,
paying for the security features, paying for
transportation and paying for
security while transporting
them. And then the CBN is
going to pay for destruction of
those notes (when they become old and tattered”. “People got up and made
statements, professional
institutions, accountants,
saying ‘this is inflationary.” I
don’t know when accountants
became economists, I don’t know when changing
denomination became the
same as increasing money
supply, but in a country in
which the decisions are not
taken based on the soundness of an argument but on
sentiments, I can’t help it. If
Nigerians would rather carry
Ghana- must- go bags on their
backs, that is fine. If they
would rather we continue pending money printing these
notes, that is fine.
www.vanguardngr.com/2013/10/sanusi-insists-naira-dollar-transfers-says-wont-re-visit-n-5000-note/

Then u need to resign and go ask how the US are still able to survive with $1 note without the yeye excuse of 'inflation caused by carrying too much notes'
You moronic entity!

Now my question to u is:

If u print one N5,000 note, and u buy something of N500, won't u be needing more of the so called lower denominations as ur change?

Why dnt u tell us it will be easier for u guys to transport and steal.

And why are u even talking of carrying ghana-must-go when u are already talking cashless-policy!

i put it to u Sir, that u are incompetent and a fool!

U shld resign!