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Features of Nigerian Currency Coins

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The smallest coin (by denomination) is the 50 kobo coin. It is 24.5 mm in diameter and shaped as a 12-sided polygon. The material used in making it is nickel. On one side, you can see the Nigerian Coat of Arms, the words ’Federal Republic of Nigeria’ and the year it was minted engraved. The reverse side has maize cobs and the ’ 50 kobo’ value.

The One Naira coin is 27.5 mm in diameter, round in shape and made out of steel plated with brass. The obverse contains the Nigerian Coat of Arms and the year of issue in the inner circle (brass-colored) with the inscription ’Federal Republic of Nigeria’and ’CBN’ in the outer circle (steel-colored). The reverse has a bust of a Nigerian political leader, Herbert Macaulay and his years of life (1864-1946), as well as the value of the coin in letters

The Two Naira coin is 24.5 mm in diameter, round in shape and made of steel plated with copper. The obverse contains the Nigerian Coat of Arms and the year of issue in the inner circle (brass-colored) with the inscription ’Federal Republic of Nigeria’ and ’CBN’ in the outer circle (steel-colored). The reverse contains the image of Abuja’s National Assembly Building with a large number "2" on top and the words ’two naira’ around it. The coins were released into circulation in 2007.

Currency in Circulation (₦ m)

N 2,003,090 - in 7/31/2019
N 2,014,073 - in 6/28/2019
N 2,111,848 - in 5/31/2019
N 2,158,698 - in 4/30/2019
N 2,153,220 - in 3/31/2019
N 2,241,313 - in 2/28/2019
N 2,139,666 - in 1/31/2019
N 2,329,706 - in 12/31/2018
N 2,100,129 - in 11/30/2018
N 1,956,009 - in 10/31/2018
N 1,926,382 - in 9/30/2018
N 1,928,744 - in 8/31/2018

Note.:
The above figures the last 12 captured months figures and are in millions of Naira.

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