Currently, the Federal Reserve issues dollar bills in seven denominations: $1, $2, $5, $10, $20, $50, and $100. While $500, $1,000, and $10,000 bills are no longer produced, they remain in ...

In 1979, the year of the Islamic Revolution, one US dollar bought 70 rials. ... In addition, higher denomination notes are often more tempting for counterfeiters to seek to copy.

The CBN will not hesitate to sanction any commercial bank or authorised forex dealer that refuses to accept old series or lower denominations of US Dollar bills from customers.