Monday, August 27, 2012

Senate Committee directs CBN to suspend introduction of N5, 000 notes

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The Chairman of the committee, Senator Bassey Otu (PDP- Cross River) issued the directive while speaking to journalists in Abuja.
Mr Out said that the re-denomination of the currency required the approval of the National Assembly, warning that the CBN must avoid sending the wrong signals to stakeholders in the economy.

He said it was vital for the CBN to discuss the implications of the currency re-denomination with the Senate before it was implemented.
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