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N5,000 note’ll devastate nation’s economy – FIN

By Chris Ochayi

ABUJA—A pressure group, the Foundation for Integration in Nigeria, FIN, weekend, rejected the plan by the Governor of Central Bank of Nigeria, CBN, Malam Sanusi Lamido Sanusi, to introduce N5,000 note, saying the move would cause devastating effect on the nation’s economy.

The group which stated this in a communiqué issued at the end of its National Executive Council, NEC, meeting in Abuja, insisted that the planned change of the N5, N10 and N20 notes to coins would cause inflation and raise the cost of goods and services beyond the reach  of ordinary citizens.

In the communiqué signed by FIN’s National President, Comrade John Adie, and his deputy, Ishaku Garba, the group said: “The continued culture of corruption and the brazenness with which it is practised is killing the economy of the country. Corruption is an enemy of development. Government should be sincere in its fight against corruption.”

The communiqué also urged the Northern leaders to collaborate with Federal Government to stop the menace of the bombing being perpetrated by the Boko Haram. It said: “We urge political leaders to stop making divisive and undemocratic utterances to allow President Goodluck Jonathan to perform.

“We urge President Jonathan to deliver on his campaign promises to Nigerians or forget 2015 as Nigerians will decide his fate through the ballot.”


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