President Goodluck Jonathan approved proposal to print N5,000 notes

The entry of the N5000 note into the nation’s money market is a fait accompli, the Federal Government has said.

Minister of Planning, Shamsudeen Usman, who spoke to journalists at the meeting of the Economic Management Team on Tuesday said that President Goodluck Jonathan had approved the proposal to print the N5000 denomination. He added that government would push ahead with the printing.

“The discussion today (Tuesday) was basically to endorse [the introduction of N5000 note]. Mr. President had already approved and that is the only requirement by law. The CBN (Central Bank of Nigeria) is to propose and Mr. President is to approve,” he said.

Jonathan presided over the EMT meeting which has Alhaji Aliko Dangote, Mr. Femi Otedola, Mr. Atedo Peterside, Mr. Aigboje Aig-Imoukhuede and other top government officials as members.