Central Bank to Release 5000 Naira Note 1st of September?

News reaching us here at Naijahottestgist is that the Apex bank of the Nation is planning to release 5000 notes into circulation come 1st of September 2012.

The Central Bank of Nigeria (CBN) will  likely release the N5,000 currency, under its on-going currency and payment reform scheme. The currency, according to a very reliable and close source in the bank, was considered because of the CBN’s cashless policy, which will be extended to other parts of Nigeria by next year.

The source also disclosed that the N5000 currency is like a guarded secret by the CBN, which it plans to release as a surprise to the market. The N5,000 single note will be the fifth note to be introduced into the economy in 13 years.

It will be recalled that the word about the release of the 5000 Naira note and who is likely to be on it has been going around for some time now. It is speculated(according to our sources) that the late President Umaru Yar’Adua’s head will be the bust on the note as mark of honor to him for his contributions to the polity and national economy.

The CBN after being contacted denies the release of the currency, and calls it a sheer rumor. We are however keeping our ears to the ground and will bring you more concrete details as we lay our hands on them.

Tell us, do you think Yar’Adua has done anything positive and of national importance to deserve him being put on the proposed 5000 Naira note? Are there not many other national heroes who are yet to be recognized and  more deserving of such national honor? Do leave a comment.