The deadline for exchanging the old currency was set at. Some Nigerians expressed concerns over the usability of the ₦2 coin.
On 28 February 2007, new coins were issued in denominations of 50 kobo, 1 and 2 naira, with the 1 and 2 naira bimetallic. In 1991, smaller 1, 10, and 25 kobo coins were issued in copper-plated-steel, along with nickel-plated-steel 50 kobo and 1 naira. The introduction of coins was in that same 1973, in denominations of 1⁄ 2, 1, 5, 10, and 25 kobo, with the 1⁄ 2 and 1 kobo in bronze and the higher denominations in cupro-nickel. 5+ Gift to Offer Your Girlfriend This Christmasġ973 brought about changes to currencies and the kobo was introduced with five denominations which are the 1/2k, 1k, 5k, 10k, and 25k.The Naira is represented with the ‘₦ ‘ sign, the kobo has the ‘K’ letter as its sign. The British pounds had been used before this date, it was respected and serve as the legal tender. In 1973, the Nigerian currency was introduced: The Naira and the kobo. It is believed that the “trade by barter” was the first medium of exchange before the British colonial reign in Nigeria, followed by the use of cowries in some if not all parts of the country. In this article, you will the available Currency in Nigeria which is Nigeria Kobo and Naira, a picture of the two currencies, and when they came into existence.
