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 US dollar bill’s standing as the world’s favourite form of cash is being usurped by the five-year-old euro. The value of euro notes in circulation is this month likely to exceed the value ...

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.