Update on N5000 Bill: As Protesters Storm CBN

Honourable Dino Melaye, a former member of Federal
House of Representatives led scores of protesters to the
headquarters of Central Bank of Nigeria, CBN in
protest against the proposed introduction of N5000
note and coinage of N5, N10 and N20 notes as recently
announced by the apex bank.
Dino who led the group of protesters under the aegis of
Anti Corruption Network reiterated opposition of
Nigerians to the currency restructuring policy of CBN.
He told Tunde Lemo, Deputy Governor of CBN who
received the protesters that the introduction of a single
N5000 note will result in inflation and that Nigerians
were opposed to it.
Melaye who described the entire proposed currency
restructuring policy as anti people said the CBN
Governor must listen to the opinion of the public on
the matter. The lawmaker who described the proposed
N5000 note as Haram also said it is unfortunate that
Sanusi Lamido Sanusi has refused to listen to calls by
National Assembly that he should suspend the policy.
He vowed to continue to lead protests against the
proposed currency restructuring until the apex bank
dropped the idea.
While speaking for CBN, Lemo said it is not true that
the apex bank will use N40 billion to print the new
currency as recently reported in the media. He also
said even if the CBN is not introducing the new notes,
it will still spend money to print currency. Lemo also
said the CBN will not do anything that will not be
interest of the masses, while arguing that contrary to
popular opinion, the introduction of the new N5000
note will not lead to higher inflation