5000 Naira Note We Will Not Drop The Idea - CBN

The Central Bank Of Nigeria, CBN says it is convinced that its currency restructuring exercise remains the best for the country,despite the scathing criticism trailing the announcement.

CBN Director of Corporate Communications, Ugochukwu Okoroafor told STV NEWS in Abuja that the myriads of criticism trailing the initiative will not compel the apex body to drop the idea.

Okoroafor dismissed the  arguments that the introduction of higher naira note would trigger inflation or work against its cashless policy.  

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He told correspondent,Victor Iroele that restructuring exercise was a logical step towards its cashless policy and consistent with its mandate and responsibility.

meE � t m H�� c n;color:black'>The president said the port will provide the needed Economic opportunity to the South East.

The Minister of Transport, Senator Idris Umar said the Port is now navigable by a vast range of vessels including ships, boats, barges, ferries and tug boats.

He emphasized that the Port will provide the needed opportunity for inland water way transportation.

Minister for Works, Mike Onolememen said he is happy the work was done by an indigenous company and is up to international standard.

On his part, the President of South East South South Professionals, Emeka Ugwu-Oju praised the present administrations effort in completing and commissioning the Port as was advocated by the professional body.

Other stakeholders from the South East, which include Senators and House of Representative members, expressed gratitude over building the project in Onitsha.

The President later commissioned the Eastern gate way named after Late Dim Chukwuemeka Odumuegwu Ojukwu.