“…Thus, the Newton-Raphson iterative scheme to determine the basins of convergence associated with the libration points, provides intrinsic properties of the dynamical system. A series of literature is available which deals with the basins of convergence associated with the libration points in various type of dynamical system such as the restricted three-body problem (e.g., [29], [24]), the restricted four-body problem with and without various perturbations (e.g., [15], [8], [9], [20,21], [30,31], [22]), the restricted five-body problem (e.g., [34]), the Hill's problem (e.g., [10], [33]), pseudo-Newtonian three and four body problem (e.g., [32], [25]), the Copenhagen problem (e.g., [35], [23]), or even the Sitnikov Problem in three and four body problem (e.g., [11], [36,37]). The present paper is described with following structure: the basic properties of the model of axisymmetric five-body problem are presented in Sect.2.…”