The Central Bank of Nigeria Currency Museum was established on 6th May, 2009 as part of activities to mark the 50th anniversary of the Bank. The Currency Museum was commissioned along with the Permanent exhibition termed “The Evolution of Money in Nigeria”. The Permanent exhibition is a collection of objects which were used as means of exchange during the pre-colonial era before modern civilisation. The Evolution of Money in Nigeria began with Trade by Barter, a system where commodities were exchanged for other commodities such as yam, maize, salt, cattles, etc. However, due to challenges of double coincidence of wants, the indivisibility of certain commodities the system was discontinued and the use of Metals began. Some of the metals used included farm tools of different shapes and sizes depending on the location it originates from. This era was closely followed by the coin era. However, due to the weight and lack of portability of some coins, paper money was introduced as they were found to be portable and light in terms of weight.
The Currency Museum’s vast collections offer great opportunities to share with visitors the various ways in which the past informs the present and how the issues of the present can make the past relevant again.