nigeria changed its currency from pounds to naira on 1 january 1973.
nigeria changed its currency from pounds to naira on 1 january 1973.
when did nigeria change its currency from pounds to naira?
1 january 1973
the naira was introduced on 1 january 1973, replacing the pound at a rate of 2 naira = 1 pound. this made nigeria the last former british colony to abandon the £sd currency system in favour of the decimal currency system. there was a government plan to redenominate the naira at 1 new naira = 100 old naira in 2008, but the plan was suspended. the currency sign is . the name "naira" is simply a contraction of "nigeria", while the subdivision, "kobo", is named by a derivation of the english "copper."
nigerian naira
bullet::::- ½ kobo









































bullet::::- 1 kobo









































bullet::::- 5 kobo









































bullet::::- 10 kobo









































bullet::::- 25 kobo









































bullet::::- 50 kobo









































bullet::::- 1 naira









































bullet::::- 2 naira









































section::::history.:banknotes.









































on january 1, 1973, the central bank of nigeria introduced notes for 50 kobo, 1, 5, 10 and 20 naira. the 50 kobo notes were last issued in 1989. in 1991, 50 naira notes were issued, followed by 100 naira in 1999, 200 naira in 2000, 500 naira in 2001 and 1000 naira on october 12, 2005.
nigerian naira