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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.

1 naira note play

1 naira note

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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 Old 50 naira note play

The Old 50 naira note

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  • The first coins that were introduced were ½, 1, 5, 10, and 25 kobo.

The old 5 naira note play

The old 5 naira note

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  • The first notes that were introduced were for the 50 kobo, 1 naira, 5, naira, 10 naira, and 20 naira.

500 naira note play

500 naira note

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  • N50 notes were not introduced until 1991.

The redesigned 5 naira note play

The redesigned 5 naira note

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READ: Bank launches cash deposit and recycling solution

  • N100 notes were not introduced until 1999.

The old 10 naira note play

The old 10 naira note

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  • N200 notes didn’t exist until 2000.

Old 20 naira note play

Old 20 naira note

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  • N500 notes were introduced in 2001.

The redesigned 10 naira note play

The redesigned 10 naira note

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  • N1000 notes were introduced on October 12, 2005.

The Redesigned 20 naira note play

The Redesigned 20 naira note

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  • The CBN is the only organization authorized to print/manufacture the naira note.

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