President Goodluck Jonathan on Wednesday launched the redesigned N50 commemorative note and non-circulating coins to mark the 50 years of Nigeria as an independent state.
The ceremony took place during the Federal Executive Council's special session at the Council Chamber of the Presidential Villa in Abuja.
The President commended the Central Bank of Nigeria for its efforts at repositioning the banking sector and the economy.
He also thanked the apex bank for the initiative of producing the N50 commemorative note together with non-circulating coins to mark the unique occasion in the history of the nation.
Jonathan also appreciated CBN's sponsorship of the gold medals to be presented to the 50 distinguished Nigerians to be honoured as well as that to be presented to the 150 selected talented youths.
The News Agency of Nigeria reports the new note has the same design as the circulating N50, but bears slight modifications.
The modifications are in the form of an addition of the 50th Independence anniversary logo, a gold iridescent band and a goodwill message written in varnish.
Meanwhile, Governor of the Central Bank Lamido Sanusi has said that the note will circulate side-by-side with existing N50 polymer and paper notes.
He said that some of the commemorative non-circulating coins are produced in 22 carats gold while others are gold plated.
Sanusi took the audience down the memory lane of currency development in the country since the first Nigerian currency denominated in One Pound, Ten Shillings and Five Shillings, issued on July 1, 1959.
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