New nigerian currency notes

As of 2023, the Central Bank of Nigeria (CBN) has introduced new Nigerian currency notes in denominations of N50, N100, N200, N500, and N1,000. Here are the details:

New Nigerian Currency Notes (2023)

1. N50: The new N50 note features a portrait of Dr. Nnamdi Azikiwe, a Nigerian statesman and politician, on the obverse (front side). The reverse (back side) features a depiction of the Nigerian coat of arms.
2. N100: The new N100 note features a portrait of Dr. Chukwuemeka Odumegwu Ojukwu, a Nigerian politician and military leader, on the obverse. The reverse features a depiction of the Nigerian national flag.
3. N200: The new N200 note features a portrait of Dr. Muhammadu Buhari, the current President of Nigeria, on the obverse. The reverse features a depiction of the Nigerian national emblem.
4. N500: The new N500 note features a portrait of Dr. Ngozi Okonjo-Iweala, a Nigerian economist and international development expert, on the obverse. The reverse features a depiction of the Nigerian national monument, the National Assembly Complex.
5. N1,000: The new N1,000 note features a portrait of Dr. Olufunmilayo Ransome-Kuti, a Nigerian educationist and women's rights activist, on the obverse. The reverse features a depiction of the Nigerian national museum.

Features of the New Notes

• The new notes have enhanced security features, including:
  • Watermark
  • Security thread
  • Raised printing
  • Micro-printing
  • Color-shifting ink
• The notes are made of a new polymer material, which is more durable and resistant to wear and tear.
• The notes have a unique serial number and a signature of the CBN Governor.

Why the New Notes?

The CBN introduced the new notes to address the following issues:

• Counterfeiting: The old notes were vulnerable to counterfeiting, which led to financial losses and insecurity.
• Durability: The old notes were prone to wear and tear, which made them difficult to handle and store.
• Security: The new notes have enhanced security features to prevent counterfeiting and ensure the integrity of the financial system.

When to Expect the New Notes

The new notes are expected to be gradually introduced into circulation over the next few months. You can expect to see them at banks, ATMs, and other financial institutions.