well lets wait and see

5000notes would make it easier for our politicians to pack away billions of naira to foreign countries.

sexyverah: we have dealers in this nation and not leaders... the only thing this dealers know how to do is to embezzle money... such a pity.. shame on them all of them

Gud talk gel. But i know its a matter of time, monkey go go market, e no go return home!

Garbage journalism by the Nigerian media. I have read through this piece time and time again, I have not seen any quote by OBJ that "N5000 notes will kill production".

All I hear is "removing money from circulation was improper". Now how does reforming a currency translate to removing money from circulation?

The level of ignorance being spread by some of these Journalists is alarming and you must be wary of what you read in the media.

I listen to some of the guys you see daily on TV who pose as "Financial Analysts", they talk trash. Unfortunately the level of literacy on economic issues in Nigeria is very low. No wonder it was so easy to defraud people with the NOSPECTRO and Pennywise schemes. They tell you invest N5,000 you get N100,000. Why not give me the address of the Baba in Ijebu to double my money.

What is actually their aganda?Are they planning to introduce the 5,000 notes and remove the lesser currencies or what?

People dont have to use the big notes if the smaller ones there.Currency denominations does not change the fact that nigeria is a consuming economy,and a consuming economy does not have a say over the value of her currencies.

Those that cannot produce,can not decide.When you produce,you fix your price and that price is the value legal tender.

ifihearam: Obasanjo does no longer have control over GEJ hence he resigned as the chairman of pdp's BOT.

@topic

I wonder what's wrong with CBN,they can't even sell their product well,I have never seen such a useless governor in my life. They did not even inform stakeholders before running to a conclusion,the media was kept out from it and to make it worse,the families of the 3 women to appear on the notes where not also consulted.

The deputy director of cuurency stated yesterday that the main reason of its introduction is as a store value and not for transaction since nigerians prefer storing the dollars,she also pointed out that the one thousand naira note has been counterfeited because we get it from the ATM,can u beat that....

To add more salt to injuries, my presido has approved it.

you mean the retardeen?

nneh1: For God's sake is it a must that whenever a CBN GOVERNOR'S tenure is rounding up new currency must come in.

They all want to make an impact and be remembered for that, no matter the outcome or adverse effects attached to it.

codernoni :
5000notes would make it easier for our politicians to pack away billions of naira to foreign countries.

are they not stealing it already

i dnt care wat it does to nigeria ;Di

People of useless generation. Hiss.

juman: People of useless generation. Hiss.

i beg dont say that oo, you also are part of the useless generation , why are u cursing urself

How well nigerian economy would done if obj can agree to return one-third of nigerian moneies that he has hidden away in foreign crevices.

Agbaya ole.

redsun: How well nigerian economy would done if obj can agree to return one-third of nigerian moneies that he has hidden away in foreign crevices.

Agbaya ole.

is he the only one that stole money?

bright007: OBJ is a fulltime hypocrite..Was it not during OBJ's tenure dat N500 and N1000 naira notes were introduced.why is he now kicking against å policy he did not reject while he was President?

When 500 and 1000 were introduced, nobody kicked against it, but even a madman knws we are heading for disaster with this proposed note.

Chanchit:

When 500 and 1000 were introduced, nobody kicked against it, but even a madman knws we are heading for disaster with this proposed note.

thank you ooo, i dont know how some ppl reason , are we facing the same challenges then now or is 500 the same as 5000.

onatisi:
is he the only one that stole money?

Just because he is not the only one does not make it right.And that is not a man that should be suggesting to a coutry he deliberately contributed to its ruin what to do.

He is an enemy of true nigerians and his rightful place is the jail for life or public execution.

What's OBJ saying? who brought this clueless GEJ forward? Was he fooled by GEJ's Uniport arranged Phd? I thought GEJ will call Sanusi to order, but you can see the conspiracy.

Says the old fart that introduced 100, 200, 500 and 1000 naira notes. BTW, when does this fool become economic expert?

"It takes some brass to attack a guy for doing what you did".- Bill Clinton at the DNC 2012

OBJ talks about contractionary monetary policies.

When OBJ increased taxes time and time again on petroleum products, was that not a contractionary fiscal policy? When he raised VAT before leaving office, was that not a contractionary policy?

If OBJ had invested the savings accumulated on building the domestic capacity in the economy, we would not have been in this mess today. We would not have felt the effect of the global recession as hard as we feel it today. If the NIPP was sincerely completed, we would have gone a long way today. So let Baba shove his talk inside that place.

Monetary policies is about what is optimum at a particular point in time. You can decide to expand the economy and put pressure on your foreign reserves. The other option is to devalue the exchange rate. But for an import dependent economy with a limited capacity for output, devaluing at once would speed up the loss of the reserves and so it has to be done gradually whilst contracting the economy.

Finally, the lasting solution is to tell your politicians to be responsible. Monetary policies are not figures but rather a reflection of activities in the economy. Where your governments from the Local government to the Federal level decide to be irresponsible with spending, there is very little a monetary policy would achieve.

GEJ! GEJ!! GEJ!!! How many time do I called you

Are you alright? or may I say are you sleeping??

So you will sit there this buffon called Sanusi will continue in a systematic run this country down??/

GEJ cant you sack this animals in the Apex House who claimed to be educated but a bloody nuissance and a pure illiterate those who do not know when to reduce currency denomination and when to add it up? I'm so ashamed of Lamido and his crook CBN gangs.

All these in the name to steal money easily, just in the name for corruption to go on. So after N5,000 I bet it that in a few years to come you will hear another lame excuse and they will say now is the time for N10,000 note and N20,000 Note. God punish you Sanusi as you have make yourself another Nigeria "NIGHTMARE"

See what someone posted in Punch....Very funny

I pray my friends will not politicise this report!!!

Let’s distill it by not looking at it from ‘I love GEJ’ or ‘I hate GEJ’. Let’s look at it from d utilitarian perspective.

In saner climes, SANUSI ought to have been sacked or queried for having d impudence to moot the idea of changing #20, #10 and #5 naira to coins and printing #5000 notes!!!

And to achieve this self serving project, he’s ready to shell out #40 billion. I don’t need to be a mathematician to know that with that money, 100,000 youths could be on the pay roll of government for a whole year and be earning #100,00 monthly.

The most interesting thing is, SANUSI has told Nigerians that President GEJ approved this plan in 2011.

Mr.Reuben Abati, YOU SAID OUR PRESIDENT DOES NOT DRINK OGOGORO?

Its sad but we don't really have a Central Bank. How has the CBN as it is today fared in its basic function of implementing our monetary polices to achieve the objectives listed below?

- Reduce Unemployment
- Ensure price stability
- Stimulate economic growth
- Ensure Interest rate stability
- Ensure Financial market stability
- Ensure Foreign exchange market stability

Sanusi should stop his current theatrics and focus on the real issues affecting the lives of Nigerians.

SLS attended Kings College, Harvard University and the like what do you expect? he doesnt see things from a poor man"s view! he is from the elite class..that's why he was hell bent on having the entire fuel subsidy removed back in january and now the introduction of 5000 note... SMH for the guy's policies

keeeem: See what someone posted in Punch....Very funny

I pray my friends will not politicise this report!!!

Let’s distill it by not looking at it from ‘I love GEJ’ or ‘I hate GEJ’. Let’s look at it from d utilitarian perspective.

In saner climes, SANUSI ought to have been sacked or queried for having d impudence to moot the idea of changing #20, #10 and #5 naira to coins and printing #5000 notes!!!

And to achieve this self serving project, he’s ready to shell out #40 billion. I don’t need to be a mathematician to know that with that money, 100,000 youths could be on the pay roll of government for a whole year and be earning #100,00 monthly.

The most interesting thing is, SANUSI has told Nigerians that President GEJ approved this plan in 2011.

Mr.Reuben Abati, YOU SAID OUR PRESIDENT DOES NOT DRINK OGOGORO?

Does he? I mean does the presido drink Ogogoro?

I wonder where are we getting our economic theories. The N5,000 note issue is disturbing. Let us try and put the cath after the horses. Nigerians are ruled by abstract, obscured and unrelialistic policies that render nothing to the masses but more hardship. I am sure some people are getting something in the contract of printing naira notes without considering its economic consequenses. May God help 9ja!

all of us agree that the policy is bad ,my million dollar question is how can we nigerians stop the govt from going ahead with the policy?

C dis edris MUgu.wen u introduce I000 u didnt know it will kill poduction ko uncle shege

AMINSCO: C dis edris MUgu.wen u introduce I000 u didnt know it will kill poduction ko uncle shege

is this ur own solution to the problem?fantastic

How does introducing N5000 bill help hold value according to CBN deputy director currency?
The dollar is a more internationally convertible currency backed by a big industrialised economy etc. Naira cannot compete with it for now.


How does introducing a big denom bill help promote a cashless economy?
I cannot see how. if anything, it promotes moving large amounts of cash and risks worsening inflation.

I wonder where they learnt their economics.

What, no Garri comments here??
Finally a thread that will truly affect the price of Garri.
Little wonder the irrepressible Garri squad are silent.

Pls more of these on the frontpage and less trashy stuff.

ifihearam:

In as much as I may agree with you that the president was just too quick to approv of this does not make you call him names ok? For ur info,its not all policies u withdraw simply because the masses are against it,for instance the removal of fuel subsidy was a good one but the timing was wrong. Get over that.

You are a useless and senseless politician,this is how far you can defend your boss

Babaji111: I wonder where are we getting our economic theories. The N5,000 note issue is disturbing. Let us try and put the cath after the horses. Nigerians are ruled by abstract, obscured and unrelialistic policies that render nothing to the masses but more hardship. I am sure some people are getting something in the contract of printing naira notes without considering its economic consequenses. May God help 9ja!

That is the point.Sanusi Lamido is a big thief(OLE NLA)