Have you ever really looked at the faces on the 20 naira note in your wallet? Most of us just stuff our wallets with cash and don’t pay much attention to the faces looking back at us. But those faces represent important figures in Nigerian history. In fact, the 20 naira note honors four key political leaders who helped shape Nigeria’s path to independence and democracy. So next time you crack open your wallet to pay for eggs and bread at the market, take a second to appreciate the statesmen on your money. This quick guide will tell you exactly who is on the 20 naira note and why they matter.
History and Origin Naira
The Nigerian naira has been the country’s official currency since January 1, 1973. Before then, Nigeria used the British West African pound. The naira was introduced to establish Nigeria’s own independent currency.
Switching to the Naira
When Nigeria gained independence in 1960, the country still used the British pound as its official currency. In 1973, the Central Bank of Nigeria introduced the naira to replace the British pound at a rate of 2 naira = 1 pound. The naira’s value was initially tied to the British pound, but now floats independently.
Denominations
The naira comes in both coins and bills. The coins come in denominations of 1, 5, 10, 25 kobo, and 1 naira. Bills come in denominations of 5, 10, 20, 50, 100, 200, 500, and 1000 naira.
Devaluations
Due to inflation and economic struggles, the naira has been devalued several times. This has caused the naira to lose over 90% of its value relative to the US dollar since the 1970s. Devaluations make imports more expensive and can spur domestic production, but they also reduce people’s purchasing power and standard of living.
The naira has a long and complex history. Though it has faced many challenges, it remains an important symbol of Nigeria’s independence and sovereignty. By understanding its origins and fluctuations in value, we can better understand Nigeria’s broader economic story.
The History of the 20 Naira Note
On February 11, 1977, a new banknote with the value of ₦20 was introduced. It was the highest denomination adopted at the time due to economic expansion, a preference for cash transactions, and a desire for ease.
As part of economic reforms on February 28, 2007, the ₦20 was issued for the first time in polymer substrate. The ₦50, ₦10, and ₦5 banknotes, as well as the ₦1 and 50K coins, were reissued in new designs, and the ₦2 coin was introduced.
Before the polymer series, the 20 Naira note went through several versions made of paper featuring various influential Nigerians. Over the years, higher denominations were introduced to account for inflation, but the 20 Naira note has remained an important bill for common transactions and is still widely used today. The current polymer note with enhanced security features has helped curb counterfeiting, ensuring its stability and continued use in the Nigerian economy.
Who is on the 20 Naira Note?
The 20 naira note is one of the most commonly used banknotes in Nigeria. On the front of the note is Nigeria’s hero, General Murtala Muhammed, a military hero. On the back is the famous Nigerian Potter Ladi Kwali. Also on the back of the note is Nigeria’s coat of arms. The coat of arms features a shield, a horse, and an eagle, representing strength, dignity, and vision. The note also features Nigeria’s official languages of Igbo, Hausa, and Yoruba, recognizing the country’s ethnic diversity.
The 20 naira note is equivalent to about 0.01604 USD, making it useful for small, everyday transactions in Nigeria. However, due to high inflation, it has lost much of its purchasing power over time.
The Face in the Front of the 20 Naira Note
The face you see on the front of the Nigerian 20 naira note is that of General Murtala Muhammed who was a prominent Nigerian military leader who served as the military head of state of Nigeria from 1975 until his assassination in 1976. Known for his dedication to wipe out corruption and indiscipline in the military, Murtala embarked on a massive purge of the public service. He set up a panel to investigate corrupt practices, which led to the retirement and dismissal of over 10,000 public officers.
Sadly, Murtala’s anti-corruption crusade was cut short. On February 13, 1976, his motorcade was ambushed in Lagos. Murtala was shot and killed, along with his ADC and driver. The assassination stunned Nigeria and Murtala was mourned by millions. His deputy, Olusegun Obasanjo, succeeded him and continued his policies.
Today, Murtala is still revered as an icon who fought for integrity and accountability. His portrait on the 20 Naira note honors his memory and serves as a reminder of his sacrifice. Though his time in power was brief, Murtala made a lasting impact through his vision of a just society and his determination to reform a corrupt system. His story continues to inspire Nigerians to this day.
The Image on the Back of the 20 Naira Note
The back of the 20 Naira note features an image of Ladi Hadiza Ladi Kwali who was a famous Nigerian potter. Her face graces the back of the 20 naira note in honor of her contributions to Nigerian arts and culture.
Ladi Kwali was born in 1925 in Kwali, Niger State. She learned traditional pottery-making techniques from her Aunt. Ladi Kwali gained recognition for developing a new style of pottery that incorporated traditional and modern elements. Her pots featured beautiful engraved patterns and new shapes.
Ladi Kwali went on to win several awards and accolades for her pottery, including the prestigious Nigerian National Order of Merit Award (NNOM), the highest national honor for academic achievement. Ladi Kwali traveled internationally to demonstrate her pottery skills and promote Nigerian arts and culture.
Sadly, Ladi Kwali passed away in August,1984. However, her memory lives on through her pottery and her depiction on the 20 naira note. Ladi Kwali’s life story serves as an inspiration, demonstrating how dedication to one’s craft and preservation of cultural heritage can lead to great success and national pride. Her pottery has become a symbol of Nigeria’s rich artistic traditions.
Ladi Kwali’s inclusion on Nigeria’s currency highlights the important role that women have played in shaping the nation’s cultural identity. It is a fitting tribute to her lifetime of work mastering and sharing the art of traditional pottery-making. Her face on the 20 naira note ensures that her memory and contributions will endure for generations to come.
Frequently Asked Questions
Have some burning questions about the 20 Naira note? Here are some of the most common FAQs:
Who is the woman on the 20 Naira note?
That is Ladi Kwali, a famous Nigerian Potter. She was widely famous for her skills and talent both locally and internationally.
What is the current exchange rate of 20 Naira?
As of 2024, 20 Naira is equivalent to about 0.01604 United States Dollars. The exchange rate does fluctuate over time based on the economy and other factors.
When was the 20 Naira note first issued?
The first 20 Naira note was introduced in February, 1977. It has been redesigned several times since then, with the latest version released in 2007.
Does the 20 Naira note have an expiration date?
No, Nigerian Naira banknotes including the 20 Naira note do not have an expiration date and will remain legal tender indefinitely. However, older notes are more prone to wear and tear over long periods of time.
Conclusion
So there you have it! The two faces on the current 20 naira banknote represent some of Nigeria’s most influential leaders and thinkers. General Murtala Muhammed was a Military Head Of State who instilled discipline and tried to make major changes in Nigeria, although his time was short but his impact is everlasting. Ladi Kwali was a talented and famous Potter.
Whenever you get a 20 naira note as change, take a moment to appreciate these important figures in Nigeria’s history. The banknotes we use in our everyday lives often have more significance than we realize. Each design tells a story about the people and values that shaped our nation.