"N5000 Note Will Kill Production" - Obasanjo

Former President Olusegun Obasanjo has joined the masses in rejecting the N5000 note which was recently proposed. He however said the introduction will kill production, while speaking at the Advocacy forum organised by Institute of Directors in Lagos. He went further to say that the 2012 Annual report of the International Finance Corporation and the World Bank showed that a record number of African countries took decisive steps to encourage more local entrepreneurs to come into the formal economy over the past 12 years but Nigeria was nowhere to be found.

"We cannot aim for 2020 if we do not halt the downward spiral," Obasanjo Said.