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N20:The Most Mutilated Nigerian Currency Note
In February 2007, the Central Bank of Nigeria (CBN) released for public use new designs of the Nigerian currency. The redesigned denominations were the N5, the N10 naira, the N20, N50 and newly introduced N2 coins.
It was neither the new coin or the new design that was spectacular to Nigerians, and no one expects it to be, but the eye catching thing was the twenty naira note which did not come in the traditional paper note format but came in a polymer format.
This, according to the International Polymer Currency Association, made Nigeria the 24th country to issue Guardian® polymer notes and the 2nd country in Africa. The twenty naira note is also the first polymer note to be printed in Africa (it was printed by the Nigerian Security Printing & Minting Plc).
Aside the CBN’s main purpose of cost reduction in currency production, there seemed to be a consensus on the reason the twenty naira note came in polymer form. The belief is that the twenty naira note is the most used of the Nigerian currency notes causing it to be the most mutilated. Even in the CBN adverts of new currency notes, the N20 was used to depict the process by which currency notes are ruined by Nigerians. In polymer form therefore, it is expected to be able to withstand the pressure of commerce much longer as it is exchanged from hand to hand.
Now, two years after the new notes were released for public use, the twenty naira note, now polymer, seems to retain its position as the most abused and mutilated Nigerian currency note.
The twenty naira note, without relying on any empirical data, is the most held and exchanged currency note. Amongst a predominantly poor and low class society, this cannot be farther from realism.
The IPCA also records that the twenty naira is the highest volume bank note in circulation in Nigeria.
The twenty naira by observation is also the most used by public transport operators in giving change (fare balance on excess) to their passengers. Market women and traders also appear to exchange more twenty naira notes in their daily transactions than any other currency denomination.
The money changers, who help split larger denominations into lower ones at a fee at bus stops and vehicle parks have more twenty naira notes in stock and in more demand from their customer base concentrated around commercial transport operators.
The polymer has seriously exposed the twenty naira as about the most roughly handled.
Some straighten it with hot electric iron, others hold it together with ‘evostic’ gum while some one torn it in two. Some twenty naira notes are so faded it looked like it had been bleached. Worse still, some use it as toothpick, some use it as cotton bud to clean their ears while others use it as funnel to fuel their vehicles.
The polymer note may not have fulfilled its purpose to withstand the pressure of commerce for much longer, but it has obviously exposed the unwholesome way Nigerians handle her legal tender. All the currency notes are handled with such impunity by Nigerians. Many people have complained about the state of the Nigerian currency notes and in the usual Nigerian style put the blame on the Central Bank for the lack of enough public enlightenment on handling currency notes.
The CBN realizing the need for currency handling re-education followed the release of the new currency notes with series of media campaigns in an attempt to ensure that these new notes do not go the way of the phased out ones.
Now it is clear that the problem of currency mutilation is the fault of Nigerians who use the notes and handle them recklessly, especially among public transport operators, market men, women and other petty traders. The lack of education or just sheer negligence among this class can be blamed for the state of our currency notes. For this class of people mere media campaigns do little in trying to change their mentality. The solution to maintaining good currency notes lies with Nigerians themselves.
We must begin to reject mutilated notes to discourage those in the habit of handling notes carelessly, because some of these notes are actually abused on purpose. The market woman will be careful the way she handles her notes when she knows that customers will reject it if it is dirty. Banks must also start rejecting mutilated and dirty notes so that petrol stations where most of these notes would usually find ready acceptance would also join the trend in saying no to these notes.
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Nedjip Tozun, CEO d.light Named in 2024 TIME100 Climate List for Transformative Impact on Clean Energy Access
Nedjip Tozun, Co-founder and CEO at d.light, has been named one of the world’s most influential leaders driving business to real climate action in the 2024 TIME100 Climate list.
TIME’s annual climate list recognizes the world’s most innovative and impactful business leaders championing climate action and working toward a sustainable future. This honor celebrates Tozun’s visionary leadership and commitment to transforming energy access for underserved communities across Africa and Asia.
Since co-founding d.light in 2007 at Stanford University, Tozun has led the company’s mission to empower lives through sustainable, affordable, off-grid clean energy solutions. Under his leadership, d.light has reached over 180 million people, providing transformative products such as solar home systems, lanterns, and appliances, and connecting households and businesses to life-enhancing solar energy.
With a growing footprint across some of the world’s most energy-challenged regions, d.light’s innovative pay-as-you-go platform, Atlas, enables over 6 million transactions monthly, making clean energy accessible and affordable for millions.
“We are honored to see Nedjip’s dedication recognized by TIME as part of this esteemed Climate list,” said Wayne Keast, d.light board member and Managing Partner of Inspired Evolution. “His passion for bringing clean energy to the most remote communities is reshaping the future of energy, health, and opportunity in regions where the climate crisis hits hardest.”
As a pioneer in clean, off-grid energy solutions, Tozun has not only driven unprecedented growth for d.light but has also challenged and changed the industry landscape.
His work has made d.light a trusted partner in the global climate effort, positioning the company as a model for sustainable development and scalable solutions in emerging markets.
With a goal of impacting 1 billion people by 2030, d.light continues to scale operations and forge partnerships to meet growing demand while addressing critical climate issues head-on.
“I’m truly grateful to be recognized by TIME for our work in advancing clean energy access”, said Tozun. “This acknowledgment underscores the urgent need to prioritize equitable access to clean energy as we tackle climate change.
d.light’s work is rooted in the belief that everyone deserves access to energy, and I am proud of what we have achieved together with our team, partners, and the communities we serve.”
Tozun’s inclusion in the TIME100 Climate list highlights the impact of d.light’s work across Africa and elsewhere. It follows d.light’s recent recognition as a finalist in the 2024 Earthshot Prize, the international environmental award founded by the UK’s Prince William that recognises groundbreaking sustainable solutions for repairing and regenerating the planet.
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Cloud Energy Solar Shines Bright with 200 Watts Street Lighting Bulb
Nigeria’s foremost indigenous Renewable Energy Company, decorated by industry partners as the most Outstanding Energy Provider, Cloud Energy Solar, living true to its appellations, is focusing its renewable energy competencies beyond the home and office.
Cloud Energy has increased its impact in street lighting with the design and production of the 200 Watts street lighting bulb.
The 200 Watts bulb consolidates the reputation of brightness and long lasting for the Cloud Energy range of energy saving bulbs, in the homes and offices.
Spurred by the abundance of the sun, the Cloud Energy Solar Company seems challenged to never let the sun set. The Managing Director of Cloud Energy, Mr. Theophilus Nweke, launching the 200 Watts bulb observed that the times are dangerous in terms of security.
Therefore, the brilliance of the street lighting will eliminate all lurking shadows from the streets and security posts. It is an answer to a call to duty for all patriots to deploy their competencies to enhance national security.
The renewable energy boss said that citizens must be prepared to make sacrifice to give Nigeria its deserved place as the giant of Africa. These sacrifices can come from the kind of opportunities that OEMs give to Nigerians. For example, Cloud Energy, a leading solar practitioner is currently offering rooftop solar panels with a flexible payment plan up to two years or more.
Property owners can now design their buildings with solar panels on the roof and keep paying long after they have completed and moved into the houses.
This flexible payment consideration, the Cloud Energy Boss explains, extends to the entire range of Cloud Energy Solar products – Energy storage products, Inverters, Batteries; Lifestyle products, Fridges, Freezers, Fans Television sets, and solar accessories.
These offers are conveyed in a campaign entitled Bridge the Energy Gap, a clear departure from the traditional way of presenting offers in the market.
The bridge has been used as a symbol to convey a sense of professional support, assistance, and partnership.
The bridge beyond meaning a make-up for a shortfall also provides a thorough fare to the energy transition, without bottlenecks. It deletes all doubts and gives a sense of certainty for a transition.to Solar.
The bridge is the fact that Cloud Energy in partnership with its finance partners offers different kinds of payment plan to ensure a done deal, in electricity, without tears.
Cloud Energy, founded in 2015 has earned respect by installing Solar and Inverter systems for discerning clients, mainly academic, research institutions and multi-nationals across the nation.
In less than a decade Cloud Energy has foot prints in the Banking and Finance sector with ATM installations; Homes and Public buildings with Solar Systems; and is a viable partner to governments through the Rural Electrification Project.
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Airtel HR Director, Adebimpe Ayo-Elias Honoured as HR Leader of the Year
The Director of Human Resources and Administration at Airtel Nigeria, Adebimpe Ayo-Elias, has been awarded as HR Leader of the Year at the 2024 HR People Magazine Awards, organized by Mapelwood Global Resource.
The award ceremony, held recently at the Lagos Oriental Hotel, celebrated the achievements of outstanding HR professionals across Nigeria who have contributed significantly to organizational success and workplace culture.
Speaking on the recognition, Carl Cruz, CEO of Airtel Nigeria, expressed immense pride in Ayo-Elias’s achievement, describing it as a milestone not only for her but also for the company.
“Adebimpe’s impact, dedication, and leadership extend well beyond Airtel, and this award is a well-deserved recognition of her influence in the HR field. We are incredibly proud of her accomplishments and look forward to her continued contributions to the industry,” he said.
Receiving the award, Adebimpe expressed gratitude for the honour, reiterating her commitment to advancing world-class HR practices within her organisation.
“I am deeply grateful for the opportunity to contribute positively to the lives of those we serve within and beyond the organization. Airtel Nigeria creates an environment that nurtures growth, encourages innovation, and prioritizes the well-being of every employee and as such, this award motivates me to continue championing these values,” she said.
This award reaffirms Airtel Nigeria’s commitment to developing and empowering talent, further establishing the company as a leading force in creating an impactful, forward-thinking workplace.
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