500 Nigerian naira Banknote Design
The 500 Nigerian naira note front design features Nnamdi Benjamin Azikiwe “Zik” (1904 – 1996), who was a Nigeran statesman, politician, and the first President of Nigeria between 1963 and 1966; he also is known as the “father of Nigerian Nationalism. The reverse note side illustrates an offshore oil rig, the National Coat of Arms, and the denomination. This note is part of the 2001 – 2020 series, and its color is brown, dark blue, olive, green, and rose on multicolor underprint.
Text: Central Bank of Nigeria, Unity, and Faith, Peace and Progress, Governor, Director of Currency and Branch Operations, Dr. Nnamdi Azikiwe 1904 – 1996, Five Hundred Naira, 500, 2017.
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The Naira has been the official currency in Nigeria since 1973, Wherefore when it replaced the Nigerian pound after the national independence in 1960.
After establishing the Naira as the legal currency of exchange, this is why the Central Bank of Nigeria issued notes in denominations of 50 kobo, 1 Naira, to 1000 Naira between 1991 and 2005.6
In 2007, Nigeria changed the 50 kobo and 1 naira to coins. But, to clarify, notes have had a different design and security changes until nowadays.
In 2019, the Naira attained a landmark when, for the first time, it featured a woman’s signature. However, Priscilla Ekwere Eleje, the Director of Currency operations of the Central Bank of Nigeria at the time.
In October 2021, the Naira, the digital version of the state currency, is officially launched in Nigeria.
Nigeria currency symbol
The currency code for Nairas is NGN, and the currency symbol is ₦. Therefore, 100 kobo are One Naira.