Section 19: Denomination and form of currency notes and coins.

(1) The Currency notes and coins issued by the Bank shall be-
(a) in such denominations of the Naira or fractions thereof as shall be approved by the President on the recommendation of the Board; and
(b) of such forms and designs and bear such devices as shall be approved by the President on the recommendation of the Board.
(2) The standard weights and composition of coins issued by the Bank and the amount of remedy and variation shall be determined by the President on the recommendation of the Board.