When did Nigeria started using 500 naira note?
When did Nigeria started using 500 naira note?
2001
2001. The Five-Hundred (500) Naira note was released on April 4, 2001. On its front is a portrait of Dr. Nnamdi Azikiwe, first President of the Federal Republic of Nigeria.
When did Nigeria started using 200 naira note?
2000
On January 1, 1973, the Central Bank of Nigeria introduced notes for 50 kobo, 1, 5, 10 and 20 naira. The 50 kobo notes were last issued in 1989. In 1991, 50 naira notes were issued, followed by 100 naira in 1999, 200 naira in 2000, 500 naira in 2001 and 1000 naira on October 12, 2005.
Who is Nigeria 500 naira note?
Nnamdi Azikiwe
Most of the banknotes contain images of previous political leaders important in Nigeria’s history; for example, Sir Abubakar Tafawa Balewa, Nigeria’s first prime minister, is pictured on the 5-naira note, and Nnamdi Azikiwe, Nigeria’s first president, is on the 500-naira note.
Who made 1000 naira note?
The 1000 Naira banknote is the highest value paper money note in Nigeria. On the obverse side of the ₦1000 bill are the portraits of Mallam Alijy Mai-Bornu and Dr Clement Nyong Isong….Additional information.
| Location | Nigeria |
|---|---|
| Landmark | Central Bank of Nigeria Headquarters |
| Animal | horses |
Is naira higher than dollar?
There was a time when the Naira was worth almost twice as much as the Dollar and equivalent to the British Pound. Almost three decades later, the local currency is valued at N407 per Dollar and N559 per Pound on the spot rate, N380 per Dollar on the official CBN website.
Who is in 10 Naira note?
Alvan Ikoku is the man on the 10 naira note.
What is money called in Nigeria?
Nigerian naira
Nigeria/Currencies
Who is in 100 naira note?
The 100 naira note became a legal tender in Nigeria in January, 1973, according to History Ville. Since then, the portrait of Obafemi Awolowo has been its adorning.
When was the last naira note issued in Nigeria?
On January 1, 1973, the Central Bank of Nigeria introduced notes for 50 kobo, 1, 5, 10 and 20 naira. The 50 kobo notes were last issued in 1989. In 1991, 50 naira notes were issued, followed by 100 naira in 1999, 200 naira in 2000, 500 naira in 2001 and 1000 naira on October 12, 2005.
Which is the highest denomination of naira in Nigeria?
The 50 Naira note was the highest denomination in 1991 when it was first introduced into the Nigerian market. The back of the banknote depicted farmers working hard at their farm. The note was later changed to polymer in 2007, and the back was later changed to depict fishermen holding their big catch. 13. The 100 Naira note:
When was the 50K banknote introduced in Nigeria?
In 1991, the 50K and ₦1 were both coined. In response to the expansion in economic activities and to facilitate an efficient payments system, the ₦100, ₦200, ₦500 and ₦1000 banknotes were introduced in December 1999, November 2000, April 2001 and October 2005 respectively.
When did the naira change to decimal currency?
By 1st December, 1962, the legal tender status was changed to showcase Nigeria’s new independent status. The currency notes were again changed in 1968 during the civil war. The government announced on December 1971 that it would change to decimal currency system as from 1st June, 1973.