The Central Bank of
Nigeria has been ordered by The House of Representatives to put on hold its plan to introduce N5,000 notes
into the Nigerian economy pending the outcome of the investigation of the House Committee on Banking and Finance.
The lawmakers resumed today after a long recess and at their meeting, agreeed that the committee would investigate the planned introduction of the controversial N5000 notes. The committee would also look into the redesigning of the N10, N20 and N50 into coins.
The reports by
Channels TV say the House passed the resolution following a motion moved by a minority leader, Femi Gbajabiamila who called on the National Assembly to urgently reform the CBN Act which allows the apex bank to expend money without the National Assembly's appropriation.
