The Akwa Ibom State branch of the Civil Liberty Organisation has called for the prosecution of the Governor of Central Bank of Nigeria, Mr. Lamido Sanusi, for the planned introduction of N5,000 note.
The N5,000, according to the CLO, will aid corruption, make Nigeria vulnerable to other strong economies, and punish the over 160 million people in the country.
The State Chairman of the CLO, Mr. Clifford Thomas, who stated this in Uyo on Monday, said Nigeria should be the last country to contemplate going for higher denomination when it is a consuming economy.
He said the N5,000 note to be introduced by the CBN voids his cashless economy policy.
Thomas 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 electorate frauds as the money will be handy to transmit about. The act is ungodly and it is against the good governance of this country.
“Nigeria is a country that imports everything – from toothpicks to matches. Sanusi is supposed to superintend over the monetary policy – like administering the inflow and outflow of cash into the system. Rather, what he is doing is to introduce naira notes that cannot buy anything.
“In Europe, United States of America, and even the United Kingdom, there are one euro notes, one dollar note: the same applies to UK pounds, but ours is a different thing.”
The state chairman of the Tricycles Association of Nigeria, Mr. Sunny Enang, blamed Sanusi for introducing such a “hostile policy.”
Enang said the former CBN Governor, Prof. Chukwuma Soludo, proposed a policy that would have aided the economy but was wished away as politicians sought every avenue they could to truncate the policy.
He said, “You will recall that Soludo proposed reducing the denomination we are having to N20 and that would have been the best fiscal policy for this country; but the politicians capitalised on Yar’Adua’s death to stop that project.”