We utilize the naira every day to do almost everything but a lot of people don’t know much about it.
The naira is the official currency of our great country, Nigeria. We utilize the naira every day to do almost everything but a lot of people don’t know much about it.
Here are some facts about the naira:
The naira was introduced in 1973 to replace the British pound as the official currenc of Nigeria.
The first coins that were introduced were ½, 1, 5, 10, and 25 kobo.
The first notes that were introduced were for the 50 kobo, 1 naira, 5, naira, 10 naira, and 20 naira.
N50 notes were not introduced until 1991.
N100 notes were not introduced until 1999.
N200 notes didn’t exist until 2000.
N500 notes were introduced in 2001.
N1000 notes were introduced on October 12, 2005.
The CBN is the only organization authorized to print/manufacture the naira note.