Museums are sites where the heritage of a people is protected and showcased. They promote the culture, history, and values of a people by the display of objects and materials collected over time.

On Wednesday, May 6, 2009, as part of activities to mark the 50th anniversary of the Central Bank of Nigeria, the Currency Museum was commissioned by the then Senate President of the Federal Republic of Nigeria, Senator David Mark.

Located in the headquarters of the CBN in Abuja, the nation’s capital, the Currency Museum is a member of the International Council of Museums (ICOM), which provides a platform for Museum professionals around the world to interact and exchange ideas. The museum has also hosted five (5) International Museum Days in the past.

The CBN Currency Museum was established to educate the public on the evolution of money in Nigeria. It would also enlighten the public about currency-related issues and the apex bank’s initiatives.

Considering the above, under the leadership of the erstwhile Director of Currency and the Branch Operations Department, Mr. Ben C. Onyido, a committee comprising professionals from various departments of the CBN was formed.

Consultants were drawn from the National Commission for Museums and Monuments (NCMM) under the Directorship of Mr. Nath Mayo Adediran (rtd), Art Professors from the Ahmadu Bello University, Zaria, Curator of the Bank of England Currency Museum, Mr. John Keyworth and an exhibition specialist, Mr. Nigel Tudman.

Found in the Currency Museum are currencies and artefacts obtained by donations, loans, and outright purchases. With the evolution of money in the last 50 years, the collections on display include banknotes, coins, photographs, gold bars, documents, books, and other objects which tell the story of money and banking in Nigeria and West Africa.

The CBN has received donations of currencies and artefacts from so many countries, as 102 countries have their currencies on display at the museum. 256 collections were recorded at the inception of the museum, and in December 2019, the collection increased to 1,934.

In accordance with progressive change, the CBN is exploring a way to take the museum digital, where interested online visitors can take virtual tours of the museum and view the collections digitally.

Meanwhile, Legit.ng earlier reported that the CBN announced a dramatic financial turnaround, reporting a profit after tax of N38.8 billion for the 2024 financial year.

In line with the Fiscal Responsibility Act 2011, the CBN will transfer 80% of the Bank's profit to the Federal Government, while retaining 20%.

The apex bank attributed the rebound to a significant boost in foreign exchange revaluation gains and strong growth in interest and other operating income.

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Source: Legit.ng