Nigeria's New Notes And Coins

21 February 2007

Lagos — Once again, the Central Bank of Nigeria (CBN), as part of its currency reforms, has concluded plans to introduce a set of new notes and coins. This is expected to take effect from February 28.

The bills that will be affected in the change include the N5, N10, N20 and N50 notes while the coins, which had virtually disappeared from the nation's cash systems before now, include the 50 Kobo, the NI and the N2. Aside the slightly smaller size of the re-designed notes, and a few new features, the notes essentially have about the same features as the ones they are replacing. Notably, none of the notes being re-introduced bears the sign of the Naira.

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