THE Human Resource Director of the Nigeria Breweries Plc, Mr Victor, Famuyibo, has said that the proposed N5,000 note by the Central Bank of Nigeria (CBN) would negate the Federal Government’s cash-less policy which the bank is also trying to implement.

Famuyibo, who was a guest speaker at the 6th University of Ibadan Sigma Public lecture organised in memory of the late Owaloko of Iloko-Ijesa, Oba Oladele Olashore, told journalists after a courtesy visit to the office of the vice chancellor of the university that, apart from the fact that the introduction of the note had the potential to affect the economy negatively, it was inconsistent with government’s earlier policies.

“My fear is similar to those that have been expressed by quite a number of people. I think it is a plan that may drive inflation further in this country. And I just wonder if this is the priority.

“Should this be our priority now? There are so many other issues that I believe policymakers should be looking at now that will not destroy value, but, if anything, add value to us at the moment.”

Comments (3)

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why are we deciving our self
written by smith micheal, August 29, 2012

why are u planning for #5000 note, why did u want dis value the naira lyk cfa to be in the same level, are using $1000 in america or did u hear abt 1000gh cedes,why can u plane to eradicate inflation why are are deceiving our self, why cant we plane for the great Nigeria.

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written by OSCAR WISE, August 29, 2012

THE ACTIONS OF MALLAM SANUSI IS INCONSISTENT AND SUSPICIOUS?
HE STARTED THE CASHLESS POLICY WHICH WAS GOOD, ESPECIALLY IN THE AREA OF CRIME REDUCTION - ATTACKS ON BULLION VANS, ENCOURAGE THE USE OF CHECKS, CREDIT CARD & FRAUD MONITORING & DETECTION.
THE PLAN TO INTRODUCE N5000 GOES AGAINST THE CASHLESS POLICY & ITS BENEFIT". IT WILL INCREASE THE EASE IN STEALING AND MOVING LARGE SUMS OF MONEY. IT MAY ALSO LEAD TO INCREASE IN COMMODITY PRICE. AND AT THE END OF THE DAY WILL TARNISH THE IMAGE OF MR PRESIDENT. I SUSPECT A HIDDEN AGENDA HE SHOULD BE ARRESTED FPR INTEROGATION.

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written by Peter Ihunna, August 30, 2012

I personally dont think that mr.Sanusi knows wht he is doing. This is in respect to the way and manner mr. Soludo wasted the memory of Harbert Marcurly and groundnut piramid. Pls, mr. Sanusi should think of other things that will benefit nigerians and not things that will promote corruption.

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