Currency Information on Nigerian Naira - NGN — Nigerian Naira - ₦
Introduced in 1973, the naira replaced the pound at a ratio of 1 pound: 2 naira. The naira has suffered from rapid inflation and discussions have been underway since 2008 surrounding revaluing the naira.
Coins in denominations of 50 kobo, and 1 and 2 naira are in circulation, alongside banknotes of 5, 10, 20, 50, 100, 200, 500 and 1000 naira.
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Comment written by Tom Francis Entrepreneur London.
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