Currency Management Currency Management
Issue System | History of Nigerian Currency | Legal Tender |Currency Gallery | Security Features
Currency Gallery
Notes:Coins
Withdrawn:
Earlier | 1959 | 1965 | 1968 | 1973 | 1977 | 1979 | 1984 | 1991 | 2007
1979 Currency Issue
On 2nd July, 1979, new currency notes of three denominations, namely, (N1),
(N5), and (N10)
were introduced. These notes were of the same size i.e., 151 x 78 mm as the
N20 note issued
on the 11th of February, 1977. In order to
facilitate identification, distinctive colours which were similar to those of the
existing banknotes of the various denominations were used. The notes bear the
portraits of three eminent Nigerians, who were declared national heroes on the
1st of October, 1978. The engravings on the back of the notes reflected cultural
aspects of the country.
All the notes were withdrawn in 1984 and reissued in new colours.
| Name |
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| Twenty Naira Dimension: 151 x 78 mm Material: Paper Withdrawn: 1984 |
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| Ten Naira Dimension: 151 x 78 mm Material: Paper Withdrawn: 1979 |
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| Five Naira Dimension: 151 x 78 mm Material: Paper Withdrawn: 1979 |
 |
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| One Naira Dimension: 137 x 78 mm Material: Paper Withdrawn: 1979 |
 |
|
| Fifty Kobo Dimension: 127 x 78 mm Material: Paper Withdrawn: 1979 |
 |
|
| Twenty Five Kobo Material: Silver Withdrawn: 1979 Reissued in Bronze in 1991 |
 |
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| Ten Kobo Material: Silver Withdrawn: 1979 Reissued in Bronze in 1991 |
 |
|
| Five Kobo Material: Silver Withdrawn: 1991 |
 |
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| One Kobo Material: Bronze Withdrawn: Still in circulation |
 |
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| Half Kobo Material: Copper |
 |
|
See frequently asked questions on Currency Management
| Facts : 1/1/1995 |
|---|
| National Clearing System Re-Visited:In January 1995, a revised clearing rule became operational to facilitate effective clearing of financial instruments and shorten the period of clearing. Consequently, inter-state cheque clearing time was reduced from 21 days to 15 days, while intra-state clearing has been reduced from 12 days to 9 days. |
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