Catalog
500 Naira
| Issuer | Central Bank of Nigeria |
|---|---|
| Year | 2022-2025 |
| Type | Log in to see details |
| Value | Log in to see details |
| Currency | Log in to see details |
| Composition | Cotton paper |
| Size | Log in to see details |
| Shape | Log in to see details |
| Printer | Log in to see details |
| Designer(s) | Log in to see details |
| Engraver(s) | Log in to see details |
| In circulation to | Log in to see details |
| Reference(s) | Log in to see details |
| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | Log in to see details |
| Reverse description | Log in to see details |
| Reverse lettering | Central Bank of Nigeria ₦500 Five Hundred Naira |
| Signature(s) | Log in to see details |
| Protection type | Log in to see details |
| Protection description | Log in to see details |
| Variants | P#W48 - 2022 P#W48 2023(1) - 2023 P#W48 2023(2) - 2023 P#W48 2024(1) - 2024 P#W48 2024(2) - 2024 P#W48 2025(1) - 2025 P#W48 2025(2) - 2025 |
| Comments |
Nigeria's 500 Naira has been printed on cotton paper continuously since the denomination was introduced in 2001, but the P#48 series sits within a politically charged reissue programme. In late 2022, the Central Bank of Nigeria under Governor Godwin Emefiele announced a currency redesign and rapid withdrawal of existing notes — a move widely interpreted as an attempt to flush out cash hoarded outside the banking system ahead of the February 2023 general elections. The resulting shortage was severe enough that the Supreme Court intervened, ordering the old notes to remain legal tender while the new ones were phased in.
The cotton substrate and security thread specification are unchanged from earlier series. What changed was the timeline — and the chaos it produced.