File:Azikiwe_500_Naira_note.jpg · Wikimedia Commons · See Wikimedia Commons
The naira is the official money used in Nigeria. It matters because it's the currency that Nigerians use for everyday transactions and that the country's economy operates with.
AI-generated from the Wikipedia summary — may contain errors.
Wikidata facts
Show 7 more facts
- Commons category
- Money of Nigeria
- central bank/issuer
- Central Bank of Nigeria
- price
- 0.0022656
- unit symbol
- ₦
- replaces
- Nigerian pound
- start time
- 1973-01-01
- conversion to standard unit
- 0.0090539525029652
Sources (2)
via Wikidata · CC0
~14 min read
Encyclopedic overview
The naira (sign: ₦; code: NGN; Yoruba: náírà, Hausa: نَيْرَ, romanized: naira, Igbo: naịra, Tyap: nera) is the currency of Nigeria. One naira is divided into 100 kobo.
The Central Bank of Nigeria (CBN) is the sole issuer of legal tender money throughout the Federal Republic of Nigeria. It controls the volume of money supplied in the economy to ensure monetary and price stability. The Currency Operations Department of the CBN is in charge of currency management, through the designs, procurement, distribution and supply, processing, and reissue and disposal or disintegration of bank notes and coins.
Excerpted from Wikipedia’s “naira” article, available under the CC BY-SA 4.0 licence.