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CBN To Launch N5000 notes on September 1, 2012

The Central Bank of Nigeria is very likely to introduce into the market N5000 note on September 1, 2012. This was however considered because of the CBN's cashless policy.

It was speculated that the head of the late president Umar Yar' Adua's will be used on the face of the note but it has now been announced that the faces of three late prominent Nigerian female activists will be used on the new notes which will be launched next year

The women are:
1. Margaret Ekpo: late politician and social mobilizer (1914 - 2006)
2. Hajia Gambo Sawaba: late politician and activist (1933 - 2001)
3. Funmilayo Kuti: lte politician and women's right activist (1900 -1978)

Also plan to convert the N5, N10 and N20 notes to coins next year

We also learnt that when an CBN was contacted, a top official denied any such plan thereby saying “Forget that story. It is not true,” 
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