Central Bank’s Plans To Print New N5000 Notes Were Not Approved, Senator Says

By SaharaReporters, New York
In a telephone interview with SaharaReporters, Senator Eyinnaya Abaribe revealed that the Nigerian Senate did not know or approve of the Central Bank of Nigeria’s plans to spend N40 billion to print and circulate N5000 bank notes.

“You cannot take a decision that affects the economy of the country without including the Parliament,” Abaribe said. “You cannot take such a momentous decision which affects the economy in very fundamental ways without reaching [out] to the Parliament.”

Abaribe underscored that no contact by the Central Bank of Nigeria (CBN) with the Parliament had been made before the decision was taken.

Abaribe

Chizony