Design:
The N500 note represents one of the new generation of currency
notes in the Nigerian currency system. Machine engraved patterns of various
characters appear on the design. These patterns provide the tactile quality so
essential to the security of the banknote. Bold colours have been used on the
back-ground tint to link securely with the engraving and help give a distinctive
identification to the design.
On the front of the note is a portrait of
Dr.
Nnamdi Azikiwe - first President of the Federal Republic of Nigeria. At the
back of the note is the picture of an off-shore oil-rig.
Paris Club of Creditors:The club represents only government guaranteed creditors. Members include the United States of America, United Kingdom, Germany, France and Canada, who guarantee the export activities of their nationals. When the recipient nation s government is unable to pay the equivalent of the imports domestic currency cover, it becomes government debt owed to creditor nations. The first Paris Club meeting was held in 1956.