Today In Nigerian History: 11th February

20 naira note

On this day in 1977, new banknote denomination of the value of 20 Naira was issued…

The introduction at the time became necessary as a result of the growth of incomes in the country; the preference for cash transactions and the need for convenience. It was the highest denomination to be introduced at the time.

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.

Also on February 11 and 12, 1961, People of the Northern and Southern Cameroon went to the polls to decide on joining independent Nigeria or the French territory of Cameroon.  The south voted to leave Nigeria and the North decided to join Nigeria.

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