Who introduced 1000 naira note in Nigeria?

Who introduced 1000 naira note in Nigeria?

Olusegun Obasanjo
The one thousand-naira note was introduced in October 2005. On 12 October 2005, Olusegun Obasanjo launched the ₦ 1000 note.

Who is on 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. Both men are governors: the former of the Central Bank of Nigeria and the latter of Cross River State, South Nigeria.

Who created 100 naira?

The Central Bank of Nigeria started issuing these 100 Nigerian Naira banknotes in 1999.

When did Nigeria introduce paper money?

On 1st July, 1959 the Central Bank of Nigeria (CBN) issued Nigerian currency banknotes, while the WACB-issued banknotes and coins were withdrawn.

Where is Clement isong from?

Eket, Nigeria
Clement Isong/Place of birth

Why did Nigeria stop using coins?

There was also a monumental decrease in the value of the Naira. 1 NGN was now almost worthless. People could no longer transact with smaller denominations as the value had dropped. So the coin currency slowly faded into non-existence.

What is the highest currency in Nigeria?

The Central Bank of Nigeria has the sole authority to issue banknotes and coins. Coin denominations range from 1/2 kobo to 1 naira. Banknotes are denominated in values from 5 to 500 naira.

When did Nigeria started using 200 naira note?

Considering cost effectiveness and expansion of economic activities, higher denomination notes were issued. These are 100 Naira(1999), 200 Naira note (2000). 500 Naira was released in April, 2001 while the 1000 Naira note was released in October 2005.

What year did Nysc begin?

May 22, 1973, Nigeria
National Youth Service Corps/Founded

Is Clement isong still alive?

Deceased (1920–2000)
Clement Isong/Living or Deceased

Who was the first indigenous governor of the CBN?

First Indigenous Governor of CBN: Alhaji Aliyu Mai Bornu was the first Nigerian Governor of the Central Bank of Nigeria from July 25, 1963 to July 31st, 1967.

When was 100 naira note first introduced in Nigeria?

The Hundred (100) Naira note was introduced on December 1, 1999 as one of the new generation notes of the Nigerian currency system. It included the most recent developments in security printing technology on paper and ink. The main feature on the front is the portrait of Chief Obafemi Awolowo, former Premier of Western Region.

When did Nigeria introduce 100 naira note?

The ₦ 100 naira note emerged in December 1999.The ₦ 100 naira note is one of the most used currency among Nigerians to the extent it is now a daily phrase among public bus drivers and “conductors”.

What currency does Nigeria use?

History of Nigeria’s Currencies. Introduced in 1973, the currency currently used in Nigeria is the Naira (₦) and Kobo.

What is the currency in Nigeria called?

The naira is the currency of Nigeria. It is subdivided into 100 kobo. The Central Bank of Nigeria ( CBN ) is the sole issuer of legal tender money throughout the Federation.