Annual Statistical Bulletin
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Central Bank of Nigeria
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| Facts : 1/16/2006 |
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| The Cowry: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. |
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