The Central Bank of Nigeria on Thursday announced a comprehensive review of the structure of the nation’s currency that would lead to the introduction of a N5,000 bill as the highest naira denomination next year.
The N5, N10 and N20 notes will also be converted to coins as part of the review.
The CBN Governor, Mallam Lamido Sanusi, who made the announcement while briefing journalists in Abuja, said the bank would, early next year, introduce the N5,000 note.
Sanusi said the new N5,000 note would have the portraits of three women who fought for the country’s independence.
They are Mrs. Margaret Ekpo, Mrs. Funmilayo Ransome-Kuti and Hajiya Gambo Sawaba. In addition, Sanusi said the back of the N5,000 note would have the picture of the National Assembly complex.