Saturday, 10 February 2018

Twenty Naira is 41 Years Old Today!

Today marks the 41st anniversary of the introduction of the Twenty Naira Note. 

On 11th February, 1977 a new banknote denomination of the value of 20 Naira was issued. 

This was special in two respects:

The N20 (Twenty Naira) banknote was the highest denomination to be introduced then, and its issue became necessary as a result of the growth of incomes in the country; the preference for cash transactions and the need for convenience.
First Generation: Our School Fee was two of this! 

The N20 (Twenty Naira) banknote became the first currency note in Nigeria bearing the Portrait of a Nigerian citizen, in this case, the late Head of State, General Murtala Ramat Muhammed (1938-1976) who was the torch bearer of the Nigerian Revolution July, 1975.
Second Generation

He was declared a national hero on the 1st of October,1978. The note was issued on the 1st Anniversary of his assassination as a fitting tribute to a most illustrious son of Nigeria.