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“Suspend N 5,000 Note”, Reps Tell CBN

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The Federal House of Representatives on Monday asked the Central Bank of Nigeria to suspend the introduction of the N 5,000 note pending the outcome of the investigation to be carried out by a committee of the House.

The House arrived at the conclusion on Tuesday after a session of debate on the proposed introduction of the N 5,000 note. The resolution came after a motion was moved that the House Committee on Finance  should conduct an investigation and report to the House in four weeks.

During the sitting, Minority Leader, Honourable Femi Gbajabiamila had asked that the National Assembly should look into the autonomy being enjoyed by the Central Bank. He also called on the National Economic Council (NEC) to convene an urgent meeting and declare a stand on the proposed introduction of the N 5,000 note.

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