collecting - Nigeria to Introduce New 5, 10, and 50 Naira Polymer Notes

Arrangements have been concluded by the Central Bank of Nigeria (CBN)
to introduce new polymer bank notes of the 5 naira, 10 naira and 50
naira denominations into circulation at the end of this month, CBN
governor, Sanusi Lamido Sanusi, indicated here Wednesday.

The new notes will be officially launched on 30 September by President
Umaru Yar'dua. The currency consumes less paper to produce, it is
durable and environmently friendly. It will be partly printed in
Nigeria and abroad, Sanusi said.

Currently, the three denominations are being printed on paper which
makes them fragile and susceptible to wear and tear.

The highest denomination of the 1,000 naira notes, the 500 naira notes
are also printed on paper.

Sanusi said the polymer bank notes would be incorporated with security
measures that will make it difficult to be forged by fraudsters.

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