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10 Shillings 1972, Nigeria

in Krause book Number: 11а
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): 138 х 77
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.

10 Shillings 1972

Description

Watermark:

watermark

Head of lion.

Avers:

10 Shillings 1972

Bank of NigeriaThe 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 above, centered.

Revers:

10 Shillings 1972

Groundnut pyramids Groundnut pyramids Groundnut pyramids Groundnut pyramids

Two workers stacking sacks with groundnut in pyramids.

Elsewhere in northern Nigeria could be seen crops of small plants with oval leaves and bright yellow flowers. This is peanuts, or peanut. Peanut crops are concentrated in the provinces of Kano, Katsina, Sokoto and Bornu. Peanut grows well in the local sandy soils. It is enough from 600 to 1000 mm of rain, and are not afraid of a long dry period. Planted peanuts usually in May - June. In September - October, the lower leaves of the plant become brown in color and start to fall. This means that the nuts are ripe. After collecting nuts stacked to dry in heaps. Each nut has two reddish nuclei containing peanut oil. Packed in bags of nuts sent to the local trading points, and from there to the main distribution center - Kano. You can see the huge pyramid of peanut bags at the train station Kano is always waiting to be sent in Lagos. Some peanut driven down the rivers to the Beninese port.

On export peanut Nigeria ranked first in the world (in 1958). It accounts for two-fifths of the total world trade volume peanuts.

In 1959 it was exported 505.2 thousand tonnes of peanuts, mainly in England, where it is used in the manufacture of margarine. A significant portion of nuts consumed domestically. In 1959, the fee was 1 million tonnes.

Groundnut pyramids were pyramid-like structures made from groundnut sacks. The pyramids were built in northern Nigeria in cities such as Kano, where groundnut production was a key part of the economy. They were viewed as both a tourist attraction and a symbol of wealth. In the 1960s and 70s, as production in Nigeria shifted from agriculture to oil, the groundnut pyramids disappeared. Recently, the Nigerian government has made efforts to revive the groundnut industry and rebuild the pyramids.

Groundnut pyramids were the invention of Alhassan Dantata, a prominent nut trader. Dantata came to Kano in 1919 and within five years was one of the most successful businessmen, supplying the Royal Niger Company (RNC) with most of their groundnuts. Dantata's company kept their groundnuts at a facility in Kofar Nassarawa, and they stacked the bags in the shape of a pyramid before they were shipped. One groundnut pyramid could be made from as much as 15,000 full groundnut bags.

Groundnut pyramids were built all across northern Nigeria, in cities like Kofar Mazugal, Brigade, Bebeji, Malam Madori and Dawakin Kudu. The pyramids became synonymous with Nigeria's agriculture wealth; a postage stamp even featured a groundnut pyramid. However, as groundnut production declined in the 1970s and 80s the groundnut pyramids disappeared and were replaced with buildings.

On February 24, 2014, Dr. Akimwumi Adesina, Minister of Agriculture and Rural Development launched a groundnut value chain project. This project is a joint venture between the Federal Government (FG) of Nigeria and the International Crops Research Institute for the Semi-Arid Tropics (ICRISAT). Their aim is twofold: to increase Nigeria's groundnut production and rebuild the groundnut pyramids. President Goodluck Jonathan reiterated the government's desire to rebuild the pyramids in a bridge dedication speech in March 2015.

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.