Yaradua has launched the new naira polymer notes.Read more,

President Umaru Yar’Adua on Wednesday in Abuja formally launched the redesigned lower naira denominations of N5, N10 and N50 notes, praising the currency restructuring programme of the Central Bank of Nigeria (CBN), which gave rise to the redesigning of the banknote denominations and coins.

On the occasion shortly before the commencement of the weekly Federal Executive Council meeting, he said the redesigning of the lower naira denominations represented a comprehensive reform strategy aimed at enhancing the efficiency of the currency structure.

“I am informed that the reform process resulted in huge cost-saving arising from the reduction in the size of the notes and streamlining of their security features. The highlight was the printing of the N20 denomination on polymer substrate to test its durability and acceptance, the first time in the history of banknote printing in Nigeria that an experiment with a substrate other than ‘cotton’ paper was carried out,” he stated.

The president explained that the approval given for the conversion of the N5, N10 and N50 notes to polymer substrate was informed by the strength and durability of the N20 note, which was the only note printed in polymer substrate in 2007 and its acceptance by the public.
“The denominated expediency of adopting the polymer substrate in banknote printing informed my approval of the conversion of the other lower banknote denominations in October 2008 on the recommendation of the board of the Central Bank of Nigeria,” he further pointed out.
While commending the governor, board and management of CBN for the initiative, he urged the public to embrace the campaign to halt the abuse, which the naira had been subjected to over the years, adding “this campaign would no doubt be greatly enhanced by the introduction of the more durable polymer notes.”

President Yar’Adua also commended the Security Printing & Minting (NSPM) Plc, which was involved in the printing of the new polymer notes, expressing the hope that the firm would in no distant future realize its full potential capacity.

“By the time the polymer substrate is produced in this country in the long run, there is no overstating the benefit to Nigeria, as self-sufficiency in currency production which indeed is the ultimate objective of this administration, would have been fully actualized,” he added.
Earlier, while presenting the new notes to the president, the Governor of CBN, Mr. Sanusi Lamido Sanusi said the redesigned notes were in conformity with international standard.
He explained that the old notes would exist alongside the new polymer notes for six months before they would be phased out.

http://sunnewsonline.com/webpages/features/newsonthehour/2009/oct/01/newsbreak-01-10-2009-001.htm

whatever for?

He looks horrible in that pix.

Oh my God see mr president!,can someone get us the picture of the money?,i want to see if there is ARABIC on it as one Nairaland member claimed some weeks ago.

Lets keep our fingers crossed for now until we see how the new note looks like and WHETHER "ARABIC WRITINGS" HAVE BEEN SMUGGLED-IN!

Until then nothing more to say.
Can a good nairalander upload the pix here please? (front and back)

At 49years, still struggling with stable electricity!

BTW: The report was a bit mute about where exactly the note was printed? It used the word "involved" when referring to the Nigerian Sec. printing and Minting!
I hope its not as usual, one of the "deals" they do, like the S.A. company that printed the 2007 election papers!

Umaru is a national embarassment. Cant he just resign and go for a thorough medical care.

lastpage:

Lets keep our fingers crossed for now until we see how the new note looks like and WHETHER "ARABIC WRITINGS" HAVE BEEN SMUGGLED-IN!

Until then nothing more to say.
Can a good nairalander upload the pix here please? (front and back)

At 49years, still struggling with stable electricity!

BTW: The report was a bit mute about where exactly the note was printed? It used the word "involved" when referring to the Nigerian Sec. printing and Minting!
I hope its not as usual, one of the "deals" they do, like the S.A. company that printed the 2007 election papers!

The CBN started distributing (changingwith old ones) the notes on September 30 to its staff and Journalist who were at the presentation to lunch the notes, and not one has reported any Arabic writing. I guess we would have to wait and see.

u no say d man no well,na sickness make look horrible like dat.

Umaru is a national embarassment. Cant he just resign and go for a thorough medical care.

Most of the time i doubt the sanity of our leaders. They want to kill a tree, instead of them to uproot the tree, they will be cutting the stems.

At 49years, still struggling with stable electricity!
Will the new naira polymer notes change any situation in the economy?
When the seven point agenda is in Saudi Arabia Hospitals, universities.
We were richly bless with all natural resources yet, we can't make use of them.

Damn, what a contrast! the notes look new and alive, but the president looks old and dying.Is that what he really looks like now. i hope he resigns soon and go take care of himself.

Yes o he really looks horrible
my pipo somebody shud tell yaradull and jonathan badluck that a new naira note is not our problem

Thank God he wasnt at the UN meeting

oh gosh! i went to naija in '05 they had naira notes
went back in '07 and they changed the naira notes.
now they are changing them again?
yaradua is a FOOL!
why is his priority to be changing the appearance of money, and putting Aarabic on it, like we're middle easterns or some shit.

man im tired of this lame shit, yaradua is bloody annoying.
cant he just get out of office already?


that pic is scary as well. lol  

That man looks like he is going to fall and die soon.

where are all those people that are shouting on the roof that d change is because sanusi wants arabic on the note, please stand up one by one and accept your insults, SHAME ON YOU

Yara'dull looks like Ojuju Calabar.

IN-THE-PAIN-DENSE Naira Notes.

[size=8pt][size=8pt]Someone PLEASE answer this Question.

Is This A President?

Damn,  I am weeping for this country. We are creating large chunks of problems for ourselves.

This is a freaky skinny messenger to some UNDERCOVER GOD-FATHERS. My dog is better as a president than this walking corpse. [color=#770077][/color][/size][size=14pt][/size]

That man looks so sickly

[font=Lucida Sans Unicode][/font]
God punish YaraDUNCE,  If his problem is New naira notes, he should eat them. This guy has no brains at all. PLs just take a closer look at his head. His death is around the corner.

Bleep, Foolish Freaky Fool. Does he know the Milions of people he is annoying right now? I need the Military plan a coup for the Idiot. And that his stupid vice, Jonathan BAD-LUCK, He's no senses at all as well. Foolish leaders.

is that the next thing to do??

YAR'DULL, look so horrible ,i pity dis man
abi he don carry HIV/ AIDS

Damn, he looks really ill. If my husband was this ill i would make him resign and we would either look for the best hospital or hospice, or i will let him rest and recover, if its terminal i would want my husband to die in peace with all the love his family can give. Making him work is punishment, Turai, do something, your husband is dying, save him and enjoy your last momments together. This is so sad, now i feel sorry for him, the guy is suffering

I wonder if they're expecting an Halleluyah! for this

What a service to the NATION

aisha2:

Damn, he looks really ill. If my husband was this ill i would make him resign and we would either look for the best hospital or hospice, or i will let him rest and recover, if its terminal i would want my husband to die in peace with all the love his family can give. Making him work is punishment, Turai, do something, your husband is dying, save him and enjoy your last momments together. This is so sad, now i feel sorry for him, the guy is suffering

You are talking love here, Turai is already planning for life after Yar'adua. what about all the daughters being married off to serving governors? What about the benefit accruing to former presidents? She knows her husband is sick, she's only trying to make the best of the situation. Or may be she just trying to keep her matital vows, TILL DEATH DO THEM PART.