HISTORY OF NIGERIA CURRENCY

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1.Nigeria had used various forms of money including cowries and Manila's.
2.Paper currency was introduced in Nigeria in 1918,pound,shilling and pence were, introduced in Nigeria.Nigeria currency was change to naira,kobo in 9th January 1973,the colour of nigeria currency was changed in 25th April,1984.
3.The N20(twenty naira) bank note, became the first currency note in Nigeria bearing the portrait of a Nigeria citizen, in this case,the,late head of state,General Muritala Ramat Muhammed.
4.On 2nd July 1979,new currency notes of denominations namely (N1),(N5) and (N10) were introduced.
5.In 1991 both the 50kobo and N1 notes were coined.In response to expansion in economic activities and to facilitate efficient payment system.
6.The N100 N200 N500 N1000 were introduced in December 1st 1999,November1st 2000,April 2nd 2001 and October 12th 2005 respectively.
7.On February 28th 2007,as part of the economic reforms N50 N20 N10 and N5 banknotes as well as N1 and 50k coins were reissued with new designs.