The lawmakers resumed today after a long recess and at their meeting, agreeed that the committee would investigate the planned introduction of the controversial N5000 note. The committee would also look into the redesigning of the N10, N20 and N50 into coins.
Channels TV reports that the House passed the resolution following a motion moved by a minority leader, Femi Gbajabiamila. He called on the National Assembly to urgently reform the CBN Act which allows the apex bank to expend money without the National Assembly’s appropriation. Click to signup for FREE news updates, latest information and hottest gists everyday
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Thanks our House of Reps! Its painful how Sanusi has totally abused the autonomy granted him by the same parliament, more than any other CBN president that we have had and would ever have. I'm eager to see how this all plays out. But some level of autonomy is required and important to regulate the business of money. Its an issue parliament needs to tread on with caution. However please put to a halt the planned currency restructuring..
ReplyDeleteKeep it up House of Reps. I want to believe that most Nigerians are with you on this. Why must CBN introduce anti-people currency ?
ReplyDeleteSounds pretty good...... but the ''Autonomous status'' of CBN may stand against the House's decision
ReplyDeleteEven if they had to do it they could have created buyin and not annouce it like its a decree. Sanusi is looking more and more like a discredited head of CBN whoes time will soon expire. All people will remember him for will be the introduction or the attempted introduction of 5000 naira notes and islamic banking. Its so funny to see that CPC wants to appoint him as their presidential candidate if Buhari steps down. They still don't get it
ReplyDeleteInfact i must commend Hon olufemi Gbajabiamila, & d speaker of d house & d rest of dem, ova d qd wrks dey r doin, may almiqhty God b wit u all. Abt d #5000 naira note, i fink sanusi's tenure wil soon xpire so, he his lukin 4 1way or d oda 2 swip som monis in2 his pockt b4 he left. Dats y his behavn lyk dat.
ReplyDeleteIt beat my imagination why would the Nigerian government swallow hook, line and sinker every policy(ies) that sanusi introduces. An average man on the street knows that nigerians are averse to the use of coins. Coining #5, #10, #20 & #50 notes respectively will turn 2 be an exercise in futility as this may result in people preferring 2 use note. Thereby, goods that are being sold within the range of these coins wil b rounded 2 notes. The net effect is inflation. IMO instead of using other nation as a yardstick in measuring the workability of policy(ies) in nigeria, policy formulation should be based among other things on value orientation of nigerians. What may work for Nation A may not work for nation B. Finally, the action that the house of reps have taken in this issue is a right step in the right direction. This country belongs to not one person, but all of us.
ReplyDeleteTanks so much house of rep. This sanusi that is making things difficult for common man, CPC want to elect him if Buhari step down they have lost it, he will do worst wen he get there.
ReplyDeleteI am amazed at how much Sanusi has become like a demi-God in the nation's economics........l hope d house of reps do not cave in to d introduction of such currency n coins....bt if dey do..we all knw wot transpired
ReplyDeleteKudos to the house members for their courageous efforts in stopping Sanusi's bid to destroy the economy the more.
ReplyDeletePls They should
ReplyDeleteBravo to house of Rep on this, Sanusi has a bad and religious hiding agenda. Look, he wantd to finance Islamic bank with federal fund in a country that is practicing any religion, when he failed in that area, he wanted to comes up with another thing again. Nigerian watchout
ReplyDeleteHow can u compare developed country with the developing country. Nigerian as not rich that level abeg. The release of 5000 note will havoc to the poor people, it is only the rich people and those that embezzle our money will benefit from this. Nigerians need to question Sanusi's integrity, he must be aiding and abetting corruption in this nation. If that's true, Almighty God will look the tears of the poor to expose and humiliate you in this very year.
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