Thursday, August 30, 2012

N 5,000 Note, How Will it Contribute to Cashless Economy?

Don't panic, I am not asking you the question, am referring to The Central Bank of Nigeria and Oga Sanusi.The president of The Bank. The known story in every looks and cronies of Nigeria is that CBN has proposed to introduce higher denomination currency in Nigeria and this time it is Five Thousand Naira note (N5000). Releasing the statement in an interview organized by NTA, The Director, Corporate Communications Affairs of the Central Bank of Nigeria (CBN), Mr Ugochukwu Okoroafor said
The corporate affairs manager also argued that it is essential to rejuvenate the currency, “to make it new”, “for an economy that is just coming out a global recession” 
Watch the full interview episode on Youtube at

The simple question I really want to ask is How will introduction of N5000 note help in the so proclaimed cashless economy by CBN?
You can comment if you have answer. Will update this blog later with such similar topic.

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