N5000 Notes Not for Mass Circulation – National Planning Minister
As the controversies surrounding the proposed introduction of N5000 notes into the country continues, a federal minister has cleared the air on some of the complaints of the masses.
Shamsudeen who made this clear during an interview with the State House Correspondents after the meeting of the Economic Management Team (EMT) presided over by President Goodluck Jonathan said the N5,000 note would be reserved for banks and heavy cash users only.
Earlier at the meeting of the Economic Managament Team where the Federal Government formally endorsed the introduction of the note despite the criticism that has greeted its introduction, CBN governor, Sanusi Lamido explained the restructuring of the currency.
The Economic Management Team dispelled the fear that the introduction of the note will lead to high rate of inflation, saying that there was no link between inflation and currency denomination.
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