ICAN urges CBN to shelve introduction of N5, 000 note

The Institute of chartered Accountant of
Nigeria (ICAN) has appealed to the Central
Bank of Nigeria (CBN) to have a second
look at the proposed introduction of N5,
000.00 note as it would lead to inflation
and hinder the cashless policy being
currently pursued by the Federal
The National President of ICAN, Mr. Adedoyin
Owolabi made appeal in an interview shortly
after paying a courtesy call on the Ogun State
governor, Ibikunle Amosun in Abeokuta.
Mr. Owolabi advised the apex bank to shelve the
idea as it would further encourage people
moving around with large sum of money and
would also result to inflation.
He also said that the Institute is planning to
sponsor Whistleblower’s Protection Bill at the
National Assembly as part of its contributions to
promote best practices in corporate governance
and rid the society of corrupt and sharp
practices which had accounted for the
unacceptable rising misery index of the
Mr. Owolabi lauded Governor Amosun’s
administration for its accomplishments in
governance and commitment to the common
goal of the people of the State.
Responding, the State governor, Ibikunle
Amosun said that the nation public service now
requires more professionals to institutionalize
various policies and programmes of government
to meet the yearnings of the populace.
Saying that ICAN members serving in the state
public service had distinguished themselves by
being thorough professionals who imbibed the
institute’s ethics of dedication, diligence and
He seized the opportunity to canvass for support
of all and sundry for the passage of the
Whistleblower’s Protection Bill, saying it would
help to attest to the transparent leadership style
of his administration.

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