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Tuesday, September 11, 2012

DO WE NEED N5000 NOTES?

Nigeria is said to be a country where anything goes. This is no surprise trailing events that have been cropped up over time. The recent spate is the proposed N5000  bill amongst others the CBN is trying to force down the neck of Nigerians.
A few months back the central bank of Nigeria came up with the introduction of cashless policy. Personaly I was thinking this is aimed at reducing the amount of notes in circulation, enabling other platform, mainly  electronic and the like.
The introduction of  N5000 note clearly negates this line of thought and directly contradicts the so called cashless policy.
Are the opinion of the governed sought before this decition was initiated? clearly not.
Those at the helm of affairst should sit tight and do the needful, as currency notes are the least of issues plagueing the country. Such funds meant for this can be channelled to power, education, infrastructures and lots more.
May God help our leaders.

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