/ 17 October 2000

NIGERIA LAUNCHES 200 NAIRA NOTE

THE Nigerian Central Bank said it would introduce new currency of 200 naira denomination into the financial system from November 2000. The central bank representative Tony Ede said the samples of the new currency notes, printed by a UK firm, De La Rue, would be presented to President Olusegun Obasanjo and members of his cabinet on November 1.” Ede said the introduction of the new naira notes would help ease pressure on the lower denominations and also reduce the risk associated with cash handling. Currently, Nigeria’s highest currency note is the 100 naira bill, introduced in July last year. – Reuters