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Central bank issues new naira bills

    ABIDJAN

    The Central Bank of Nigeria (CBN) has introduced bills of 100, 200 and 500 naira as part of an effort to restructure the currency, it said it a report on Tuesday.

    The bills are expected to be in circulation between now and mid-2000, AFP reported. They are intended to reduce the difficulties in carrying huge sums of money in smaller units, AFP quoted the bank as saying. Up to now, the 50-naira bill was the highest denomination in Nigeria.

    The CBN has recently taken measures to strengthen the currency which has fallen to around 104 to the US dollar from 85:1 in January.

    This article was produced by IRIN News while it was part of the United Nations Office for the Coordination of Humanitarian Affairs. Please send queries on copyright or liability to the UN. For more information: https://shop.un.org/rights-permissions

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