Twenty Naira Note: What you should know about Nigeria’s oldest paper money

shakirudeen taiwo

February 11, 2018 9:10 PM

Nigerians have been spending this note for the past 41 years.

Nigeria is just 67 years and its oldest paper money – N20 is marking 41 years of existence.

On February 11, 1977, the military government of Obasanjo introduced a new banknote domination to mark a new beginning for the country. As at this time, the paper note was the highest value of Naira in the country.

Like other currencies, the issuance of this note was necessitated by the growth of incomes/revenue of Nigeria. High preference for cash transactions and the need for convenience also prompted the government to take this decision.

Moreover, the currency is the first money in Nigeria to have face of indigenous people. Both sides of the note have portraits of late General Murtala Ramat Muhammed (1938-1976) and Ladi Kwali, a famous pottery from Gwari Abuja.

Much has been written and said about the late head of state, but little is known as the Ladi Kwali.

Ladi Kwali was professional pot maker whose skills got her a recognition from the Queen of England. In 1962, Kwali was awarded Member of the Order of the British Empire (MBE) in 1962 by the Queen Elizabeth II for her pot making skills.

The Nigerian Government also invested on her with the insignia of the Nigerian National Order of Merit Award (NNOM) in 1980. This award is the highest national honour for academic achievement in the country.

The many Generations of N20 note in Nigeria

i. First generation of N20 notes in Nigeria

ii. Second generation of N20 notes in Nigeria

iii. Current design of the money - third generation

shakirudeen taiwo

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