The naira (sign: ₦) is the official currency of Nigeria. 100 Kobo makes one naira.

The Central Bank of Nigeria (CBN) issues money throughout the Nigerian Federation. It controls the amount of money supply in the economy in order to ensure the economy and prices are stable.

The last time you held the Nigerian currency, did you stop to wonder when did Nigeria start using naira and kobo? It all started in 1912, when Nigeria’s former colonial masters through the West African Currency Board began issuing currency notes in Nigeria. The board issued Pounds sterling (£), Shilling (s) and Pence (d).

About 13 years after independence, on 1 January, 1973 under the General Yakubu Gowon military regime, Nigeria’s own indigenous currency was issued by the Central Bank of Nigeria while the Pounds sterling issued by the West African Currency Board was withdrawn. The new currency had a Naira and kobo divisions, with ₦ as sign for naira, ‘k’ as sign for kobo and NGN as code. 100 kobo made one naira (₦1).

The Naira Sign, History, Denominations and Regulations

10 NAIRA

At the back of the 10 naira note are two ladies carrying calabashes. It has been discovered that it is a picture taken by John Wilfrid Hinde an English photographer, whose idealistic and nostalgic style influenced the art of postcard photography.

Hinde took the picture of the Fulani milk maids between 1960 and 1970. Below are the pictures:

20 NAIRA

List Of All Senatorial Districts In Nigeria.

General Murtala Ramat Muhammed was born on November 8, 1938 and was assassinated on February 13, 1976. He was the military ruler of Nigeria from 1975 until his assassination in 1976. His picture appears on the 20 naira note.

Below are the pictures:

Ladi Kwali OON, MBE was a Nigerian potter. Lady Kwali was born in the village of Kwali in the Gwari region of Northern Nigeria, where pottery was an indigenous female tradition. Ladi Kwali is respected for her pottery and she appears on the 20 naira note. Below is the picture:

50 NAIRA

100 NAIRA

Chief Obafemi Jeremiah Oyeniyi Awolowo, GCFR, was a Nigerian nationalist and statesman who played a key role in Nigeria’s independence movement, the First and Second Republics and the Civil War. His picture graces the 100 naira note. Here is the real photo:

200 NAIRA

Sir Ahmadu Bello KBE was born on June 12, 1910 and died on January 15, 1966. He was a Nigerian politician who was the first and only premier of the Northern Nigeria region. He also held the title of Sardauna of Sokoto. His picture appears on the 200 naira note. Below are the pictures:

500 NAIRA

Benjamin Nnamdi Azikiwe, usually referred to as Nnamdi Azikiwe or Zik, was one of the leading figures of modern Nigerian nationalism. He served as the second and last Governor-General of Nigeria from 1960 to 1963 and the first President of Nigeria from 1963 to 1966, holding the presidency throughout the Nigerian First Republic. His face is on the 500 naira note. Below are the pictures:

1000 NAIRA

Mallam Aliyu Mai-Bornu was born in 1919 and he died on February 23, 1970. He was a Nigerian economist, and the first indigenous Governor of the Central Bank of Nigeria. On the 1,000 naira note he is one of the faces, beside Dr Clement Isong. Below are the pictures: