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Bank of Canada wants to know who should be on the new $5 bill

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Sir Wilfrid Laurier’s face is going to be wiped off of the $5 bill to make way for someone new.

The Bank of Canada wants the public to weigh in on who they think should replace Canada’s first francophone Prime Minister.

Governor Stephen Poloz says the process will be similar to the process that led to Viola Desmond being selected for the $10 bill. The civil rights pioneer was chosen through an open call for iconic women. 

"This time we will be asking all Canadians to nominate any historic Canadian — someone who is truly banknote-able." Poloz told a business audience in Vancouver.

Laurier has been featured on a Canadian note four times since 1969.

Poloz says he’ll share more details at the end of the month.

Jessy Bains is a senior reporter at Yahoo Finance Canada. Follow him on Twitter @jessysbains.

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