Nigerian Naira Currency | Nigeria Currency Notes

Nigerian Naira

Nigerian naira Currency:

The naira is the official currency of Nigeria. It is subdivided into 100 Kobo. The official code of currency is NGN and the central bank is Central Bank of Nigeria. On 1 January, naira was introduced which replacing by the pound at a rate of 2 naira = 1 pound.

Coins were introduced in 1973 in denominations of ½, 1, 5, 10 and 25 kobo. 1, 10, 25, 50 kobo and 1 naira coins were issued in 1991.  New coins were issued on 28 February 2007 in denominations of 50 kobo, 1 and 2 naira. Some Nigerians expressed concerns over the usability of the ₦2 coin. On 31 May 2007 is the deadline for exchanging the old currency. The central bank stated that the ½ to 25 kobo coins were withdrawn from circulation with effect from 28 February 2007.

The Central Bank of Nigeria introduced notes on January 1, 1973 in denominations of 50 kobo, 1, 5, 10 and 20 naira. In 1989, 50 kobo notes were issued last.  50 naira notes were issued in 1989, followed by 100 naira in 1999, 200 naira in 2000. In 2001 introduced 500 naira and 1000 naira introduced on October 12, 2005. New versions of the 5 to 50 naira banknotes were introduced on February 28, 2007.

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Nigerian Naira

Nigerian Naira (Nigeria):

Code: NGN

Symbol:

Subunit:       

1/100 = Kobo

Banknotes:  

5, 10, 20, 50, 100, 200, 500 & 1000 Naira

Coins:

50 Kobo, 1 & 2 Naira

Central bank:         

Central Bank of Nigeria

Other Currencies,

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