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5 Shillings 1972, Nigeria

in Krause book Number: 10а
Years of issue: 1972
Edition:
Signatures: Governor: Dr. Clement Nyong Isong (Served From: 15/8/1972 - Retired 24/9/1975), General manager: Mr. D. O. Dafinone (7/1/1970 - 10/15/1975)
Serie: Third Series
Specimen of: 1968
Material: Cotton fiber
Size (mm): 126 х 73
Printer: TDLR (Thomas de la Rue & Company), London

* All pictures marked magnify are increased partially by magnifying glass, the remaining open in full size by clicking on the image.

** The word "Specimen" is present only on some of electronic pictures, in accordance with banknote images publication rules of appropriate banks.

5 Shillings 1972

Description

Watermark:

watermark

Head of lion. Security thread.

Avers:

5 Shillings 1972

Bank of Nigeria

The building of Bank of Nigeria in Lagos is on left side.

The building was built in the second half of the 1950s, it is embodied on the banknote as it looked just after construction.

Denominations in numerals are in all corners. In words in lower right corner.

Revers:

5 Shillings 1972

Two workers sawing tree trunks.

The major wood processing industries in Nigeria are typically large capacity facilities industry such as large sawmills, plywood mill, pulp and paper plants and quite large numbers of small scale wood products manufacturing companies such as furniture industries, cabinet makers and carpentry. Round-wood in Nigeria comes mostly from the natural high forest zone of the country, in particular from the Southern States of Nigeria, but most especially in Ondo, Cross River, Ogun, Edo, Delta Ekiti, Osun and Oyo States of Nigeria which are the largest producers. The most important wood products, produced, consumed and traded in Nigeria are sawn-wood, plywood, particle board, news-print, printing and writing paper and other paper boards.

Denominations in numerals are in all corners. In words lower, centered.

Comments:

1958 1958

On banknote are signatures of:

NigeriaGovernor of the Bank Dr.Clement Nyong Isong.

NigeriaGeneral manager of the Bank Mr. D.Dafinone.

The pound was the currency of Nigeria between 1907 and 1973. Until 1958, Nigeria used the British West African pound, after which it issued its own currency. The pound was subdivided into 20 shillings, each of 12 pence. The Nigerian pound (which was at parity with the British pound with easy convertibility) was replaced with the introduction in 1973 of the decimal naira at a rate of 1 pound = 2 naira. This made Nigeria the last country to abandon the £sd currency system.

In 1918, emergency issues were made by the government in denominations of 1, 10 and 20 shillings. In 1959, the Central Bank of Nigeria introduced notes in denominations of 5 and 10 shillings, 1 and 5 pounds. Three series of notes were issued, in 1958, 1967 and 1968.