President Goodluck Jonathan Orders CBN Governor to Halt Introduction of N5000 Notes | Senate makes Impeachment Threat Against the President

President Goodluck Jonathan has formally ordered the Governor of the Central Bank of Nigeria, Mallam Lamido Sanusi, to suspend the planned introduction of N5,000 note.

His Special Adviser on Media, Dr. Reuben Abati said in Abuja that the President’s latest resolve was based on the need for more “enlightenment and consultation”.

“The introduction of the new note is being suspended for now to enable the CBN do more enlightenment on the issue.Yes, President Jonathan has directed that the implementation of the new N5,000 note be suspended for now.

“This is to enable the apex bank to do more in terms of enabling Nigerians understand why it proposed it in the first place. So, for now, the full implementation is on hold,” Punch quoted him as saying.

The CBN, in a statement on Thursday 20th September, 2012, also confirmed that it had received a presidential directive to stop action on the currency restructuring plan. The statement also claims that contrary to rumours, the CBN has not given any company the contract to begin printing the proposed notes.

The planned introduction of the N5000 note has attracted a huge outcry and condemnation since it was proposed.

In related news, the Senate yesterday made an impeachment threat against President Jonathan over the non-implementation of its resolutions.

Channels TV reports that the impeachment threat was initiated by Senator Uche Chukwumerije (PDP Abia North), during a debate on a bill for an act to amend the public enterprises act. He threatened to  move a motion to impeach the President if he continues to ignore the resolutions of the Senate. 

The report further stated that the Senator and his supporters said they have started collecting signatures and if they collect up to two third of the Senate, they were going to move a motion against the President’s impeachment.