Tuesday, 18 September 2012

NATIONAL ASSEMBLY REJECTS N5000 NOTE Members of the Senate and the House of Representatives have unianimously rejected the proposed introduction of N5000 notes into the nigerian economy. In a motion sponsored by Senator Ita Enang from Akwa Ibom state, the policy was condemned by virtually all who spoke. Senate president David Mark did not mince words when he said that the government should listen to the people. Similarly, at the House of Representatives, the plan was pushed aside as members sided with majority of other nigerians in condemning the policy. The House of Reps also wants an amendment to the CBN act which will make the CBN seek approval from the National Assembly before any policy inplementation.

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