BREAKING NEWS: House directs CBN to halt N5, 000 note introduction

The House of Representatives has ordered the Central Bank of Nigeria, CBN, to shelve its plans to print the N5, 000 notes.
 
The House gave the directive at its plenary sitting on Tuesday after weeks of recess. Ongoing debates on the floor of the Senate show that the Senate may arrive at a similar resolution.
 
The lower chamber also directed the President to remove Aruma Oteh, the Director General of The Security and Exchange Commission, who was initially suspended and later re-instated by President Goodluck Jonathan.
 
In what seems a direct confrontation with the executive, the House also asked Mr. Jonathan and the executive to ensure the immediate full implementation of the 2012 budget.


IMOH, Patrick E.
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