₦airaland Forum

What bout our coinz?

..

Obafemi Awolowo coined the name 'Naira'

https://www.youtube.com/watch?v=7O3htOWW2ys

See how Nigerian currencies transformed from 1918 to date

kennygee:
Lies. Coins have gone extinct in the north as well, first kobo, then naira coins.

But the north is home to the most hideous, dirty and tattered looking naira notes in the country.

Them no dey reject money here.

you're so right. I live in Kano and I can attest to this.

good.

Rajosh:
you're so right. I live in Kano and I can attest to this.

When I travel up north, I spend whatever tattered money they give me before I leave.

Who wan collect am for my hand for Abuja?

kennygee:
Lies. Coins have gone extinct in the north as well, first kobo, then naira coins.

But the north is home to the most hideous, dirty and tattered looking naira notes in the country.

Them no dey reject money here.

That's true!
I noticed that when I visited Kaduna

Op, you have omitted 50kobo oh.

So many things are wrong with the word Naira and Nigeria.

Our govt need to change those names asap

Nice.

Worth? As in Value Does Nigeria itself have any significant Worth? Remove NigerDelta oil and you'll see the true value

kennygee:
Lies. Coins have gone extinct in the north as well, first kobo, then naira coins.

But the north is home to the most hideous, dirty and tattered looking naira notes in the country.

Them no dey reject money here.

Stop wallowing in ignorance bro,
Coins are very much in use up North. Till this day, big shopping malls like Shoprite in Abuja still dispenses and collects coins to and from customers.

arduino:
Stop wallowing in ignorance bro,
Coins are very much in use up North. Till this day, big shopping malls like Shoprite in Abuja still dispenses and collects coins to and from customers.

Shey na the same shop rite wey I still go yesterday?

Oya go and shop there and bring coins.

Una go just dey talk wetin una no fit prove.

Found this recently, while
digging in my garden.

Minted pre-independence (1959),
carrying Arabic script & interestingly,
the Jewish 'Star Of David' too...

Available to the highest bidder.. $$$ €€€ £££

kennygee:
Lies. Coins have gone extinct in the north as well, first kobo, then naira coins.

But the north is home to the most hideous, dirty and tattered looking naira notes in the country.

Them no dey reject money here.

You're right. They can even collect one half of a note that has been torn into two. But in the South, we'll be rejecting money as if the person giving you works with central bank.

Ubijus1:
Many people today make use of the Nigerian naira but don’t know its history as well as the various signs, symbols and it worth. The official currency, currently used in Nigeria is called the Nigerian naira, which was subdivided into 100 kobo.

In this article I will discuss with you about the history, symbol, sign and worth of the Nigerian currency- the naira and kobo.

Nigeria as a country which you already know is a middle income, mixed economy and emerging market. It is considered as one of the largest economies in Africa today and the largest in West Africa, blessed with many useful natural resources and has been exporting to several countries around the world.

Before the introduction of the Nigerian Naira and Kobo, which was in the year 1973, the Pound was the currency of Nigeria and was used between 1907 and 1973. However, prior to this time, the country had used various forms of money including Cowries and Manilas.

It was not until the year 1958 that Nigeria used the British West African pounds that it issued its own currency. The pounds were subdivided into 20 shillings, each of which was 12 pences. Back then, the Nigerian pounds was at parity with British pounds with easy convertibility. It was replaced with the introduction in 1973 of the Decimal Naira at a rate of 1 pound = 2 Naira. This new change made Nigeria the last country to abandon the British West Africa pound currency system.

In 1959, coins were issued in denominations of ½, 1, 3 and 6 pence respectively and in 1 and 2 shillings. The ½ and 1 penny coins were bronze and holed. The 3 pence coin which was minted in nickel-brass was a smaller version of the distinctive twelve sided three penny bits that was used in the UK, jersey and Fiji.
Bank Notes

The issue of bank notes in Nigeria has a long history. There was an emergency issue made by the government in the year 1918 presenting denominations of 1, 10 and 20 shillings. By 1959, the Central Bank of Nigeria introduced notes in denominations of 5 and 10 shillings, including 1 and 5 pounds. Three series of notes were issued, in 1958, 1967 and 1968 respectively.

Following the introduction of new currency – the Naira and Kobo as the legal tender in 1973, the Kobo was the first to be widely used in the country. There were certain unique symbols and signs that distinguished the currency.
• The Naira has the sign ‘₦’
• The Kobo was signed “K’

There was five denominations of the Kobo which were 1/2k, 1k, 5k, 10k and 25k in 1973 and by the year 1989, the 50k and N1 notes were changed to coins

Today in the country, the Kobo coins have been phased out because its value can no longer purchase items in the country’s marketplace.

The Central Bank of Nigeria (CBN) was the only financial institution authorized to be the issuer of the Naira bank notes in the country, while the printer was the Nigerian security printing and Minting Company.

The Nigerian Naira, code “NGN” and signed with the symbol “₦” was released in notes in the year 1973 which include the four different denominations: ₦1, ₦5, ₦10 and ₦20.
Introduction of Major Naira Notes:
• In the year 1991, the ₦50 naira note was introduced in the country
• After this was followed by the introduction of the ₦100 naira in 1999.
• The ₦200 naira note was introduced in the year 2000
• By 2001, the ₦500 notes were introduced.
• And finally, the ₦1000 note was released on October 12, 2005.
Along the line, some notes were phased out, while others were redesigned.

The worth of the Nigerian naira has long depreciated in both the local and international market which had made it lack it purchasing power.

credit: https://wakanda.ng/history-of-nigerian-naira-symbol-sign-and-worth/

I have 50 kobo note in perfect almost brand new condition. If interested...

kennygee:
Shey na the same shop rite wey I still go yesterday?

Oya go and shop there and bring coins.

Una go just dey talk wetin una no fit prove.

Na the same one I go last week Friday. Total bill had some three naira on it. I use coins pay

kennygee:
Lies. Coins have gone extinct in the north as well, first kobo, then naira coins.

But the north is home to the most hideous, dirty and tattered looking naira notes in the country.

Them no dey reject money here.

Hello Kenny, some rural villages in the far north still collect coins as means of exchange.

Rajosh:
you're so right. I live in Kano and I can attest to this.

come to Katsina, people still trade with coins.

What is the meaning of naira? Which Nigerian language was it coined from?

tofolo:
come to Katsina, people still trade with coins.

I did my pre degree at SBRS Funtua 2009. I didn't see people trading in coins. Maybe you're right Sha. But I guess it should be in very remote villages.

Sad the naira is now heading the Zimbabwean dollar way. One of the most worthless currencies in Africa.

Hardewarlee:
Who cares � All I want is the money

them don use ur brain fry akara

Rajosh:
I did my pre degree at SBRS Funtua 2009. I didn't see people trading in coins. Maybe you're right Sha. But I guess it should be in very remote villages.

Thank you, am not talking of the township areas. But very remote areas and very hard to access.

Bastard Pikin lol Una don come again , Oloshi we don see you sha , Go and die IJN amen

frankblinkz:
them don use ur brain fry akara

Why do we have arabic inscriptions on our Naira notes, it's not supposed to be there

Ubijus1:
Many people today make use of the Nigerian naira but don’t know its history as well as the various signs, symbols and it worth. The official currency, currently used in Nigeria is called the Nigerian naira, which was subdivided into 100 kobo.

In this article I will discuss with you about the history, symbol, sign and worth of the Nigerian currency- the naira and kobo.

Nigeria as a country which you already know is a middle income, mixed economy and emerging market. It is considered as one of the largest economies in Africa today and the largest in West Africa, blessed with many useful natural resources and has been exporting to several countries around the world.

Before the introduction of the Nigerian Naira and Kobo, which was in the year 1973, the Pound was the currency of Nigeria and was used between 1907 and 1973. However, prior to this time, the country had used various forms of money including Cowries and Manilas.

It was not until the year 1958 that Nigeria used the British West African pounds that it issued its own currency. The pounds were subdivided into 20 shillings, each of which was 12 pences. Back then, the Nigerian pounds was at parity with British pounds with easy convertibility. It was replaced with the introduction in 1973 of the Decimal Naira at a rate of 1 pound = 2 Naira. This new change made Nigeria the last country to abandon the British West Africa pound currency system.

In 1959, coins were issued in denominations of ½, 1, 3 and 6 pence respectively and in 1 and 2 shillings. The ½ and 1 penny coins were bronze and holed. The 3 pence coin which was minted in nickel-brass was a smaller version of the distinctive twelve sided three penny bits that was used in the UK, jersey and Fiji.
Bank Notes

The issue of bank notes in Nigeria has a long history. There was an emergency issue made by the government in the year 1918 presenting denominations of 1, 10 and 20 shillings. By 1959, the Central Bank of Nigeria introduced notes in denominations of 5 and 10 shillings, including 1 and 5 pounds. Three series of notes were issued, in 1958, 1967 and 1968 respectively.

Following the introduction of new currency – the Naira and Kobo as the legal tender in 1973, the Kobo was the first to be widely used in the country. There were certain unique symbols and signs that distinguished the currency.
• The Naira has the sign ‘₦’
• The Kobo was signed “K’

There was five denominations of the Kobo which were 1/2k, 1k, 5k, 10k and 25k in 1973 and by the year 1989, the 50k and N1 notes were changed to coins

Today in the country, the Kobo coins have been phased out because its value can no longer purchase items in the country’s marketplace.

The Central Bank of Nigeria (CBN) was the only financial institution authorized to be the issuer of the Naira bank notes in the country, while the printer was the Nigerian security printing and Minting Company.

The Nigerian Naira, code “NGN” and signed with the symbol “₦” was released in notes in the year 1973 which include the four different denominations: ₦1, ₦5, ₦10 and ₦20.
Introduction of Major Naira Notes:
• In the year 1991, the ₦50 naira note was introduced in the country
• After this was followed by the introduction of the ₦100 naira in 1999.
• The ₦200 naira note was introduced in the year 2000
• By 2001, the ₦500 notes were introduced.
• And finally, the ₦1000 note was released on October 12, 2005.
Along the line, some notes were phased out, while others were redesigned.

The worth of the Nigerian naira has long depreciated in both the local and international market which had made it lack it purchasing power.

credit: https://wakanda.ng/history-of-nigerian-naira-symbol-sign-and-worth/

Thanks for the info. However, Nigeria is not a middle income country. Countries with per capita income of $6000-12,000 are usually considered as middle income country. Nigeria has per capita income of abt $2500, which makes her a third world country.

what an exquisite history.

[quote author=Hardewarlee post=68636349]Bastard Pikin lol Una don come again , Oloshi we don see you sha , Go and die IJN amen [/quote omo u jst be trash.....

Lol I was reading then stopped at a point cos the thing isn’t beneficial gone at the days wey current affair they boil for person head . I don move Go bitcoin even my time on my wrist watch and phone na USA eastern Time. It’s just my body that’s in Nigeria my soul and every thing is aboard.