CBN to Change Polymer Naira Notes to Paper Notes

The Central Bank of Nigeria has stopped the printing of small denomination (N5, N10, N20 and N50) naira notes in polymer because they fade quickly.

The Deputy Governor of CBN, Mr. Tunde Lemo, disclosed this in an interview with the News Agency of Nigeria on Sunday in Washington on the sidelines of the ongoing Spring Meeting of the World Bank and the International Monetary Fund.

He said, "By the middle of the year, we will start to produce the second generation of lower denomination notes, now in paper and not in polymer."

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