Last weekend The Deputy
Governor of CBN, Tunde Lemo disclosed that it would soon conclude plans to
produce and roll out N5000 bills, a project which was initially abandoned due
to its rejection by Nigerians.
He disclosed this while speaking to
journalists at the NIBSS 20th anniversary conference held in Lagos, said in one
to two months from now, the N5000 notes would be in circulation.
According to The Sun he said: "We only stopped the project due to the low level of understanding of its benefits among Nigerians, but we now plan to educate the people about the importance of the notes to our economy before we eventually launch it".
He added that Nigerians would soon see the notes in circulation and start to enjoy its benefits.
Speaking on the cashless initiative, Lemo noted that it has been a great success within the experimented states, stressing that the apex bank has deployed 120,000 Point of Sale (PoS) Machines across the states where cashless policy is being experimented in Nigeria.
According to The Sun he said: "We only stopped the project due to the low level of understanding of its benefits among Nigerians, but we now plan to educate the people about the importance of the notes to our economy before we eventually launch it".
He added that Nigerians would soon see the notes in circulation and start to enjoy its benefits.
Speaking on the cashless initiative, Lemo noted that it has been a great success within the experimented states, stressing that the apex bank has deployed 120,000 Point of Sale (PoS) Machines across the states where cashless policy is being experimented in Nigeria.
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