The Deputy Governor of CBN , Tunde Lemo (pictured above), disclosed at the weekend 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.
Lemo , who disclosed this while speaking to journalists at the NIBSS 20 th anniversary conference held in Lagos , said in one to two months from now , the N5000 notes would be in circulation .
According to The Sun be said : " 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 .
Speaking on the cashless initiative , Lemo
noted that it has been a great success
within the experimented states , stressing
that the apex bank has deployed 120 , 000
Point of Sale ( PoS ) Machines across the
states where cashless policy is being
experimented in Nigeria .
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