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Currency | History of Nigerian Currency | Legal Tender | Currency Gallery | Security Features | Features of Nigerian Currency | Clean Notes Policy

Currency in Circulation:

Notes: N1000 | N500 | N200| N100 C | N100 | N50 | N20 | N10 | N5
Coins: N2 | N 1 | 50 Kobo

Currency Withdrawn:

 Earlier | 1959 | 1965 | 1968 | 1973 | 1977 | 1979 | 1984 | 1991 | 2007

N50 Note

130mm x 78mm

Date Released
28th February, 2007

The N50 note was introduced in 1991 and redesigned in 2007. Ornamental patterns, geometric motifs adapted from Nigerian traditional art form were intricately combined and colors were chosen to ensure beauty, distinctiveness and clear identification.

The back side image depicts a big catch by local fishermen.

Past Issues of this note

With drawn in 2007

The main feature on the front are the hand engraved portraits of four Nigerians, three men and a woman, superimposed on the Nigerian map.

The main feature on the back is a hand engraved vignette that depicts farming in its two aspects of cultivating and harvesting. The right top corner value is on two cowries shells. Cowrie shells were once a medium of exchange in the country.

See frequently asked questions on Currency Management

Facts : 1/7/1959
Evolution of Departments:At inception, the organisational structure of the CBN was understandably simple consisting of two departments, namely, the General Manager's and the Secretary's Departments, with the appropriate division of labour as then percieved. The General Manager's Department was responsible for all the Department banking, currency issues, debt management and other operational functions of the bank while the Secretary's Department handled the administrative and staff matters, carried out some research into the economic and financial conditions, and collected and analysed relevant statistics for policy formulation.
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Central Bank of Nigeria:: Did You Find