The Central Bank of Nigeria (CBN) said there’s no plan to introduce N5,000 denominated bank note following the naira redesign.

Ahmed Umar, CBN Director of Currency Operations made the clarification on Tuesday in Port Harcourt, Rivers State.

Umar attended the Nigeria Deposit Insurance Corporation (NDIC) workshop for Financial Correspondents Association of Nigeria (FICAN) and Business Editors.
We are not introducing any new note. Some people have seen one N5000 note that we don’t know about”, NAN quoted him saying.

Umar was represented by Amina Halidu-Giwa, Head of Policy Development at CBN Currency Operations Department.

The official said note restructuring would mean that lower bills like the N100 note would become coin.

Umar added that the focus of the apex bank is printing notes that would replace the currencies to be withdrawn.

“What we are printing is going to be very limited because we want other means of settling transactions to be used,” he explained.

Source: https://dailypost.ng/2022/11/29/naira-redesign-cbn-denies-plan-to-print-n5000-note/

Anything you like, print.

Do we even have any opinion? Before somebody will say na hate speech.

“What we are printing is going to be very limited because we want other
means of settling transactions to be used,”

Worthless CBN and it weak Naira

worthless country, worthless leadership, worthless currency. spits!

Ipob will concoct story and post it on social media, when authorised agencies distance themselves from the report, same ipob will say they are denying what they had said.

I still don't know where the rumour of printing higher denominations are coming from. Prior to the launching of the redesigned notes, Emeka was arguing seriously about higher denominations. He even backed his argument that the reason for higher denominations was that Buhari and Tinubu were planning to steal plenty money to go save in amelica.

I asked Emeka where he got this information. His response was not just amusing, but very funny, so at that point, I stopped the argument. His brother who was very close to Simon Ekpa was the source.

LeoDeKing:
Ipob will concoct story and post it on social media, when authorised agencies distance themselves from the report, same ipob will say they are denying what they had said.

I still don't know where the rumour of printing higher denominations are coming from.

Bigot

LeoDeKing:
Ipob will concoct story and post it on social media, when authorised agencies distance themselves from the report, same ipob will say they are denying what they had said.

I still don't know where the rumour of printing higher denominations are coming from. Prior to the launching of the redesigned notes, Emeka was arguing seriously about higher denominations. He even backed his argument that the reason for higher denominations was that Buhari and Tinubu were planning to steal plenty money to go save in amelica.

I asked Emeka where he got this information. His response was not just amusing, but very funny, so at that point, I stopped the argument. His brother who was very close to Simon Ekpa was the source.

Did IPOB kill one of your relation


Why the accusations against IPOB without evidence

I don't see anything wrong in having a ₦5k note. It's long overdue.

Someone showed me that fake 5k note few days ago online and I was like is CBN printing 5k note along with the redesign of the old notes?

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Rubbish

OK oooo

Lol . There's no smoke without fire.

Higher denomination notes will only worsen hyperinflation. No strong currency has very high denomination. The US dollar, British pounds sterling, Euro.

Ok

It's even better to scrap the big denominations so that the naira can worth anything.

Do you realize that N50 can hardly buy anything now?

My own concern is that 20$ monthly limit on our ATM card is embarrassing and frustrating

.

They will soon need to print 5k & even 10k notes considering the rate at which prices are escalating & smaller notes like 5,10, &20 naira notes are becoming worthless.
Unless something drastic is done like voting out PDAPC.

Well. Printing very few note will have consequences on the economy. The economy will be shrink. Marketers will complain of low sales and credit because of no cash. Also beggars And children will suffer as a result of no physical cash.

People hoarding cash as a result of limited cash.

Small scare business will be stagnant.

ok

Anything APC denied is real.

That will be automatic devaluation

Ok

Illeterates.

Thunder fire Emefile, if him like make him print N1m

Pls as anyone heard about this company b4 pls help a brother.

one funny thing i realize about Nigeria government is that ,anything they come out to deny publicly or anything they debunk ,that thing will surely come into existence ,so my people be ready for more naira devaluation because that 5000 naira will be the end of naira and its economy

please be careful,i know that road but never heard of the company ,could be true or false but please be careful

kevwemike:
Pls as anyone heard about this company b4 pls help a brother.

i swear ...say no more

OPICANTO2223:
Anything APC denied is real.

chatinent:
I don't see anything wrong in having a ₦5k note. It's long overdue.

Are u ok?

Like for rise in naira value share for rise in dollars value

LeoDeKing:
Ipob will concoct story and post it on social media, when authorised agencies distance themselves from the report, same ipob will say they are denying what they had said.

I still don't know where the rumour of printing higher denominations are coming from. Prior to the launching of the redesigned notes, Emeka was arguing seriously about higher denominations. He even backed his argument that the reason for higher denominations was that Buhari and Tinubu were planning to steal plenty money to go save in amelica.

I asked Emeka where he got this information. His response was not just amusing, but very funny, so at that point, I stopped the argument. His brother who was very close to Simon Ekpa was the source.

Wetin consign ibos with printing of naira?

since July 13, 1969 ,the American government has refused to circulate any note above $100 and that same $100 in 1969 was almost or even equivalent to 100 naira at that time and now take a look at same $100 is somebody else flat house rent in Ibadan,yet our naira no stable and you want them to print 5k note ...plan well for your kids pls.

chatinent:
I don't see anything wrong in having a ₦5k note. It's long overdue.