Appeal to CBN: Rethink the Proposed ₦5,000 Tinubu Banknote

I write to express concern over reports that the Central Bank plans a new ₦5,000 note in the coming quarter. This move could worsen inflation and weaken purchasing power at a time when Nigerians are already feeling the squeeze. More troubling are claims the note will feature President Tinubu’s image. Releasing it just before an election risks politicizing our currency and undermining confidence in the Bank’s independence. We understand the push for transactional efficiency, but history shows higher denominations often follow inflation rather than solve it. We also hear a foreign printing contract is already in place, yet the public has not been properly consulted. We urge the Central Bank to pause this plan. Prioritizing monetary discipline and restoring naira stability should come before introducing a larger note. Nigeria needs a stronger naira, not a bigger one.

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