Senate rejects N5,000 notes

THE National Assembly on Monday said it would stop the Central Bank of Nigeria from introducing its proposed N5, 000 note.
Chairman of the Senate Committee on Banking, Currency and Other Financial Institutions, Senator Bassey Otu, made this known yesterday.
He said that the Senate believed that the project required parliamentary approval because it had numerous and fiscal implications for the entire economy.
Moreso, The Civil Liberty Organisation (CLO)The Akwa Ibom State branch, has called for the prosecution of the Governor of Central Bank of Nigeria, Lamido Sanusi, for the planned introduction of N5,000 note.
Speaking on Monday in Uyo, Clifford Thomas, the State Chairman of CLO said: The N5,000 proposed by the CBN is anti-people. It is a deliberate policy to increase poverty, punish the over 160 million Nigerians so that the rich will become richer and the poor, poorer. It will be much easier to commit electoral fraud, as the money will be handy to transmit about,”.

I hope he is kidding about the prosecution part sha o but I particularly think this is a failed macro-economic policy.Inflation won't just gallop,it will fly noni.Nigeria has passed the stage where one CBN governor parades himself as the mr-know it-all-of-our-time and yet our economy keeps crashing while he makes unhealthy policies to imprint his name on national annals instead of working in the economic interest of the people and nation of Nigeria as is required of him by virtue of his office.

mscheww...

Comments

The Empowered woman

I think being a woman,I mean a real woman is one of the hardest things ever!. You won't agree with this only if you are not a woman,but if you are a woman,then congratulations to you.You are a mysterious being but then again this congratulation goes to the 'real woman'. The real woman is that person that makes everything difficult seem easy.She is a hard worker,faithful friend and partner,a good manager,a home maker,a lover,a confidant,a mother,a sister,a daughter,a visioneer...Someone,may say,"Yea, ok...I'm not a mother or I'm single and so does that make me not a real woman?Of course not!. Age,class,status,beauty or achievements do not define a real woman,but character does. I can't but wonder at the stories we hear these days about women.I marvel at the rate of evil perpetuated by women in our society.Prostitution is old wives tale but when women are involved in armed robbery,kidnappings,terrorism,gang rape,adultery,fraud to mention a few,then by a...

The Career Woman

I stumbled upon this beautiful article on IFP while researching on other stuff and thought to share it. It's a 4 minutes read. I totally agree with it. Gender equality seems to be the one issue that isn't going away. Many of us like to believe sexism is something that only plagued the workplaces of yesteryear, but unfortunately it still exists. Don't believe us? Well, in 2016 just 57% of the world's working-age women were in employment, compared to 70% of their male counterparts. And even the females who were in work were struggling to catch up with the men. Women with full-time jobs still earn only about 77% of their male counterparts' earnings. Of course, the issue is complex and many expect that because most countries have made it illegal to pay women less than men, that gender inequality has fixed itself. However, problems surrounding unconscious bias , parental leave, and outdated stereotypes about gender roles persist in the workplace. But what are th...

Domestic Voilence in Nigeria heightens in the face of economic hardship-majority of victims are women!

A recent Public Opinion poll conducted by NOIPolls Limited in partnership with Project Alert on domestic violence has revealed an increasing prevalence of domestic violence across Nigeria in recent times as reported by about 8 in 10 (78 percent) respondents. This prevalence is highest in the South-West geo-political zone (86 percent) and lowest in the South-South zone (70 percent). More findings revealed that 54 percent of Nigerians have suffered a form of domestic violence or know someone that has experienced domestic violence in their homes with majority of the victims being women as stated by 75 percent of respondents. Just this week, a man in Aba Abia state allegedly beat his wife into coma for lying to him that she has not been paid her salary after commissioner for finance Obinna Oriaku mis-informed the Abia public on radio that civil servants salary arrears have been paid.

The Woman's Place

Search This Blog