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Nigerian Currency: Everything You Need to Know About Naira & Kobo

Nigerian Currency: Everything You Need to Know About Naira & Kobo.

Nigerian Currency – What are the available Currency in Nigeria?, Nigeria Kobo and Naira.

In 1973, the Nigerian currency was introduced: The Naira and the kobo. The British pounds had been used before this date, it was respected and serve as the legal tender. The Naira is represented with the ‘₦ ‘ sign, the kobo has the ‘K’ letter as its sign.

The Nigerian Kobo

Image result for nigerian kobo

1973 brought about changes to currencies and the kobo was introduced with five denominations which are the 1/2k, 1k, 5k, 10k and 25k.

In 1989  50K and N1 notes were changed to coins. In recent times the kobo coin is no longer in use as the value can no longer purchase items.

The Nigerian Naira Note

The Nigerian note was introduced in 1973, with the denominations —  ₦1, ₦5 and ₦10. The features of currencies have been mired by a series of redesigning and re-introduction of new notes.

 

Image result for 1 naira

1 Naira note: Herbert Macaulay. Introduced – 1973

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