Nigerian Naira
OriginNigeria
First Minted1973
MaterialVarious
TypeCurrency
About Nigerian Naira
Replaced the Nigerian pound in 1973 at 2 naira to 1 pound. The name was coined by Chief Obafemi Awolowo. Nigeria is Africas largest economy and most populous nation. The naira has faced severe devaluation, from parity with the dollar in the 1970s to over 1,500 naira per dollar by 2024. The Central Bank of Nigeria has redesigned the naira notes multiple times to combat counterfeiting and cash hoarding.
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