At a time when most countries are going ‘cashless’, encouraging the use of Debit and credit cards with increase in Internet transactions, Our beloved country Nigeria announced its plan to introduce N5,000 naira note. At the moment our highest denomination is N1,000 launched seven years ago. Is this a necessity? Or an ‘Irrelevant brilliancy’.!
After all, the maximum currency here in the United Kingdom is a £50.00 note. However, the good news is at last women will now feature on our notes. The faces of three prominent Nigerian female activists are those of late politician and social mobiliser, Margaret Ekpo (1914 – 2006); late politician and activist Hajia Gambo Sawaba (1933 – 2001) and late politician and women’s right activist Funmilayo Kuti (1900 -1978), the legend Fela Kuti’s mum..
The existing denomination of N50, N100, N200, N500 and N1000 will also be redesigned with added new security features.