More Nigerians have continued to react to President Goodluck Jonathan’s directive to the apex bank to suspend the N5, 000 note scheduled to be introduced in 2013.
They expressed their views in separate interviews with the News Agency of Nigeria (NAN) in Lagos on Saturday.
The National Assembly had on Wednesday urged Jonathan to stop the Central Bank of Nigeria (CBN) from printing the N5, 000 notes.
Dr Samuel Nzekwe, former President of Association of National Accountants of Nigeria (ANAN), described the president’s directive as a welcome development.
He said that governance was about the people, adding that the Federal Government had demonstrated that it was committed to listening to the yearnings of Nigerians.
“CBN did not consult Nigerians before planning to introduce N5,000 note which is not good enough if the nation wants to attain sustainable national development,’’ he said.
He said that there should be mass enlightenment by government agencies and institutions on any policy or programmes they planned to introduce.
Dr Olumide Owoade, a senior lecturer, Department of Economics, Lagos State University (LASU), also said that the introduction of the note would lead to inflation.
According to him, the initiative negates the cash-less policy of the apex bank.
“It will encourage people to carry plenty of money about.
“The N5, 000 note will increase the rate of corruption and other vices,’’ the don said.
Another don, Dr Kazeem Bello, an economics lecturer at the University of Ibadan, said that the introduction of the note “is unacceptable to Nigerians’’.
He criticised a statement credited to the CBN Governor, Malam Sanusi Lamido Sanusi that the N5, 000 note was not meant for all Nigerians, saying that was not good enough.
“ Any good policy will consider the generality of the citizens,’’ Bello said.
Mr Titus Okunronmu, a former Director of CBN, Budget Department, said that he did not support the suspension of the N5, 000 note.
He believed that the introduction of the note would not lead to inflation as being suggested in some quarters.
“It cannot cause inflation as there would not be an increase in the amount of money in circulation.
“ It is only when there is an increase in the supply of money in the nation’s economy that will lead to inflation.
“It will not increase corruption and it does not negate the CBN cash-less policy,’’ he said.