On 28 February 2007 the CBN issued the lower denominations (₦5, ₦10, ₦20, ₦50) in polymer substrate (sourced from Note Printing Australia / Securency) to improve note longevity. Paper variants were progressively withdrawn.
Polymer2007· Yar'Adua· Chapter I · Money
Polymer ₦5–₦50
Lower denominations re-issued in polymer for durability.
Sources
- · CBN Annual Report 2007
What it cost — political & economic reality
The political and economic reality
Nigeria in 2007: who was in charge, the cabinet of the day, the GDP, and the crises that defined the period.
President · Fourth Republic
Chief Olusegun Obasanjo
1999–2007· PDP
National reality
Return to civilian rule, 29 May 1999. Telecoms deregulation (2001) — GSM revolution. Paris Club exit, October 2005 ($30 bn debt relief, Okonjo-Iweala). Pension Reform 2004. EFCC established 2003.
Crises of the period
- Third Term agenda defeated 2006
- Niger Delta militancy intensifies
- ASUU strikes; Sharia introduction in 12 northern states
GDP (World Bank)
$59 bn (1999) → $166 bn (2007)
Cabinet (selected portfolios)
- Finance
Adamu Ciroma (1999–2003); Ngozi Okonjo-Iweala (2003–06)
- Education
Tunde Adeniran; Babalola Borishade; Fabian Osuji; Chinwe Obaji; Oby Ezekwesili
- Health
Prof. ABC Nwosu
Source: Federal Gazette 1999–2007; CBN; World Bank WDI
President · Fourth Republic
Alhaji Umaru Musa Yar'Adua
2007–2010· PDP
National reality
Niger Delta amnesty programme (2009). Yar'Adua became gravely ill in late 2009; the Doctrine of Necessity (Feb 2010) made Goodluck Jonathan Acting President. Yar'Adua died 5 May 2010.
Crises of the period
- Yar'Adua medical absence + cabal
- Niger Delta amnesty negotiations
- Boko Haram founding violence (Maiduguri 2009)
GDP (World Bank)
$166 bn (2007) → $369 bn (2010, post-rebasing trajectory)
Cabinet (selected portfolios)
- Education
Igwe Aja-Nwachuku; Dr. Sam Egwu
Source: Federal Gazette 2007–10
Methodology
Tier 1 · primary
Courts. Gazettes. National archives.
Tier 2 · corroborating
OCCRP. HRW. BudgIT. TheCable.
Redline
Wikipedia is never a source.