What is Nigeria’s currency?

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What is Nigeria’s currency?

Answer – Naira – Nigeria’s currency is the naira. It has been in use since January 1973, when the government moved to a decimalized system, with one basic currency and sub-units of that currency. In Nigeria’s case, the naira is the so-called major unit, and the minor unit is the kobo, of which 100 equals one naira. Prior to 1973, the country used the Nigerian pound, a remnant of its former status as a British colony. Today, there are naira banknotes of various denominations, including ₦1, ₦5, ₦10, ₦20, and ₦100. Each banknote features the portrait of a prominent Nigerian. The ₦5, for example, shows Nigeria’s prime minister, Sir Abubarkar Tafawa Balewa.:


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