Despite the fierce opposition to it from nearly all segments of the Nigerian society, the Federal said on Tuesday that it is going ahead with the plan to introduce a single N5, 000 notes in the country.
Dr Shamsudeen Usman, the Minister of National Planning, Dr. Usman Shamsudeen who spoke to reporters after a meeting of the Economic Management Team, EMT in the Aso Rock Presidential Villa said President Goodluck Jonathan has already approved the introduction of the new super note. He added that members of the EMT also endorsed it at its meeting today.
“The discussion today was basically to endorse. Mr. President had already approved; that is the only requirement by law. The CBN is to propose and Mr. President is to approve. And since Mr. President has approved, really what is important is to just explain. I personally had some concerns about the coins but since some discussion with the CBN governor, he has actually clarified that even the media didn’t get it”, the minister said.
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