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Currency in Circulation:

Notes: N1000 | N500 | N200N100 C | N100 | N50 | N20 | N10 | N5
Coins: N2 | N 1 | 50 Kobo

Currency Withdrawn:

 Earlier | 1959 | 1965 | 1968 | 1973 | 1977 | 1979 | 1984 | 1991 | 2007| 2022

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
NEEDS:National Economic Empowerment and Development Strategy was developed by the National Planning Commission, then headed by Prof Charles Soludo. It was endorsed by the Federal Executive Council of Nigeria as a poverty-alleviating strategy. The aim of the scheme was to meet the Millenium Developoment Goals of curbing the menace of poverty in Nigeria and bringing it to the barest minimum by the year 2015.
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