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Currency Gallery

Currency | History of Nigerian Currency | Legal Tender | Currency Gallery | Security Features | Features of Nigerian Currency | Clean Notes Policy

Currency in Circulation:

Notes: N1000 | N500 | N200| N100 C | N100 | N50 | N20 | N10 | N5
Coins: N2 | N 1 | 50 Kobo

Currency Withdrawn:

 Earlier | 1959 | 1965 | 1968 | 1973 | 1977 | 1979 | 1984 | 1991 | 2007

Before 1959

Prior to the establishment of the West African Currency Board, Nigeria had used various forms of money including cowries and manilas. Commodities were also used as a form of exchange known as barter.

The West African Currency Board was responsible for issuing currency notes in Nigeria from 1912 to 1959.

Name
Manila
Dimension: Varies in Size
Material: Pig Iron & Slag
Period Used: up until 1700
Manila
Dimension: Varies in Size
Material: Pig Iron & Slag
Period Used: up until 1700
Manila
Dimension: Varies in Size
Material: Pig Iron & Slag
Period Used: up until 1600
Cowries
Dimension: @ 0.5 In across
Period Used: before 1700
The Cowry has, for centuries, served our people as an important form of currency. In 1860 the following system was in use: 40 Cowries formed a "String"; 50 Strings made a "head" and 10 heads comprised a "bag". In Lagos in 1865 one bag of 20,000 shells was exchanged for one or two English Pounds.
Salt & Barter
Period Used: before 1600
 

See frequently asked questions on Currency Management

Facts : 1/1/1900
International Monetary Fund:The International Monetary Fund was established in 1945 to promote the health of the world economy with 29 countries sigining the Articles of Agreement. Nigeria joined the IMF in 1961,which now has 184 members with its headquarters in Washington D.C., USA.
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