Nigeria, April 9 -- Two dangerous rumours grew wings and spread like wildfire in the harmattan haze last week, but thank goodness that the Presidency moved swiftly to shoot them down. The first rumour was that the government had given the Central Bank of Nigeria (CBN) the nod to introduce N5,000 and N10,000 denominations in addition to the existing denominations, the highest of which is N1,000. The second rumour was that the Independent National Electoral Commission (INEC) chairman, Professor Mahmoud Yakubu, had been sacked by President Bola Ahmed Tinubu.

To introduce N5,000 and N10,000 denominations at this point in time is to kukuma relieve the doddering economy of its troubles and send it to an early grave where it can rest in pieces!...