2017 Nigeria 500 Naira Banknote – Legacy of Leadership and Industrial Progress

Issued by the Central Bank of Nigeria, the 2017 500 Naira note continues the long-running design series introduced in 2001. It honors Dr. Nnamdi Azikiwe, Nigeria’s first President and a key figure in the country’s independence movement. The reverse highlights Nigeria’s offshore oil industry, reflecting the nation’s economic backbone and industrial aspirations.


Banknote Specifications
Feature Details
Country Nigeria
Year of Issue 2017
Denomination 500 Naira
Currency Series Standard Circulation Series (2001–2022)
Issuer Central Bank of Nigeria
Dimensions 151 × 78 mm
Material Cotton-based paper
Printing Method Offset and intaglio
Security Features Watermark (Dr. Nnamdi Azikiwe), electrotype “CBN500”, windowed security thread, UV elements
Catalog References Pick #30 · Numista N#203765



Obverse

Portrait of Dr. Nnamdi Azikiwe, wearing traditional attire
Ornamental security patterns inspired by Nigerian textile motifs
Inscription: Central Bank of Nigeria – Five Hundred Naira
Scripts: Latin and Arabic
Color scheme: Purple and olive-green on rose and multicolored underprint


Reverse

Vignette of an offshore oil platform, symbolising Nigeria’s petroleum industry
National coat of arms at lower left
Denomination repeated in multiple locations
Script: Latin
Color scheme: Purple and green over multicolored background


This note remains a key acquisition for collectors focused on African banknotes, post-colonial leadership, and industrial iconography. Its enduring design and historical portraiture make it a staple in modern Nigerian numismatics.