CBN governor answers Obasanjo
Governor of the Central Bank of Nigeria, Mallam Lamido Sanusi, on
Tuesday called former President Olusegun Obasanjo a very bad economist.
The governor of Nigeria's Apex bank said that Obasanjo had misconceptions about the effect of the N5000 note on the economy. He made this known at the the sixth annual conference of the Chartered Institute of Bankers of Nigeria in Abuja, expressing shock to the opposition of the former president who had introduced the high denominations in the country, including N1000 note.
“This is an interesting country because my uncle or my father, who is our former Head of State, Gen. Obasanjo, you know he is a very successful farmer, but he is a very bad economist. He stand up and says that this higher denomination (N5000 note) will cause inflation and improve hardship,” Sanusi.
Obasanjo had at a roundtable advocacy forum organised by the Institute of Directors, Nigeria, in Lagos, last Thursday submitted that the N5000 note would kill production and affect small businesses negatively.
He said the way Sanusi was fighting inflation by removing money from circulation was improper.
Hear, See, and Say it
The governor of Nigeria's Apex bank said that Obasanjo had misconceptions about the effect of the N5000 note on the economy. He made this known at the the sixth annual conference of the Chartered Institute of Bankers of Nigeria in Abuja, expressing shock to the opposition of the former president who had introduced the high denominations in the country, including N1000 note.
“This is an interesting country because my uncle or my father, who is our former Head of State, Gen. Obasanjo, you know he is a very successful farmer, but he is a very bad economist. He stand up and says that this higher denomination (N5000 note) will cause inflation and improve hardship,” Sanusi.
Obasanjo had at a roundtable advocacy forum organised by the Institute of Directors, Nigeria, in Lagos, last Thursday submitted that the N5000 note would kill production and affect small businesses negatively.
He said the way Sanusi was fighting inflation by removing money from circulation was improper.
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