CBN redesigns Naira notes, introduces N5,000

By Emman Ujah, Abuja Bureau Chief ABUJA—The Central Bank of Nigeria, CBN, Thursday, announced the introduction of a new currency series under which the existing denominations of N50, N100, N200, N500 and the N1,000 notes will be redesigned with added security features. CBN Governor, Mallam Sanusi Lamido Sanusi, told journalists in Abuja at a briefing that N5,000 note would also be introduced, while the lowest denominations of N5, N10 and N20 are to be coined. N5,000 NOTE: Mallam Sanusi Lamido Sanusi, Governor, Central Bank of Nigeria, CBN (right) and CBN Deputy Governor, Serah Alade, at a briefing on the introduction of N5,000 note, with image of three Nigerian women, to be introduced in 2013, in Abuja. PHOTO: Gbemiga Olamikan.

He said: “On November 28, 2011, the CBN Board considered and approved the new currency series. It subsequently sought and, on December 19, 2011, obtained the approval of President Goodluck Jonathan. “Under the new structure, the existing denominations of N50, N100, N200, N500 and N1,000 will be redesigned with added new security features. It is also our pleasure to inform you that a new high currency denomination will also be introduced. It is the N5,000 note.” continued