New Centenary Notes Go Into Circulation Today

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The Central Bank of Nigeria (CBN) has directed all its branches across the country to start issuing the commemorative centenary notes as from Friday, in line with earlier announcement by the apex bank.

“The commemorative N100 banknote unveiled recently by the President, Dr. Goodluck Ebele Jonathan, goes into circulation on Friday, December 19, 2014. Accordingly, all branches of the Bank have been directed to commence issuance of the currency in their respective locations.

The new note was designed in commemoration of the 100-year anniversary of country’s existence as a nation. Modern-day Nigeria, which has grown to become Africa’s largest economy, came into being on January 1, 1914, with the formal amalgamation of the Northern and Southern Protectorates of the former British colony. January 1, 2014, therefore marked 100 years of the union.

The CBN Governor, Godwin Emefiele, while unveiling of the new banknote recently, had explained that it was designed with enhanced security features that will help to check counterfeiting. Authentication features of the note include window micro-optics, showing the national flag and numeral 100 indicating the value of the denomination and the attainment of the centenary period. At the back side of the currency is the introduced Quick Response Code, QRC, a digital communication feature that highlights and sources all the information about the centenary. With the QRC application, the barcode on the banknote can be scanned by users to read a brief history of Nigeria.

The new commemorative note will circulate alongside the existing N100 notes in the country. the same way a commemorative N50 polymer note used to mark Nigeria’s 50th Independence Anniversary celebration in 2010 was circulated alongside the existing one.

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