Central Bank Plans Roll Out Of N5000 Note By March 2014

The Central Bank of Nigeria bank 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.

Deputy Governor of CBN, Tunde Lemo, who 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 him: "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.