NIGERIA

(naira = 100 kobo)

126-NGN

Last 120 days

Text Box: 	In 1973, Nigeria adopted a  national currency in decimal form instead of the pounds, to replace the imperial system which she inherited from the British colonial administration. The pounds and shillings were changed to Naira (N) and kobo (k), and four denominations of notes were issued as follows: 50 kobo; N1; N5 and N10. N20, and N50 note denominations were added in 1977 and 1991 respectively.  100, 200 Naira notes were released on 1st November, 2000,  500 Naira in April, 2001, and the 1000 Naira  in October 2005.
	On February 28th 2007, as part of the economic reforms, N50, N20, N10, N5, N1, 50K, were reissued in a brand new design. A new denomination N2 coin was introduced.
Text Box: Import / Export restrictions:
	Foreign currency:
  In: free, must declare
 Out: up to amount imported and declared
	Local currency:
  In: free up to 100 NGN (0.80 USD)
 Out: free up to 100 NGN (0.80 USD)

NOTES in circulation (2000+)

COINS in circulation (2007)

older COINS, withdrawn in February (2007)(?? %)

withdrawn from 27.02.2007

изтеглени на 27.02.2007

изтеглени на 27.02.2007

изтеглени на 27.02.2007

изтеглени на 27.02.2007

Oval: to the rates

withdrawn from 27.02.2007

 

NOTES and COINS we buy

buy / sell

% fixing

Valid till:

Notes

NGN 1 000 (2005); 500 (2001); 200, 100 (2000); 50, 20, 10, 5 (2007)

xx / xx %

in circulation

naira 50, 20, 10, 5 (1984+), withdrawn in February 2007

?? / ?? % 

??

similar notes (1973-79) in different colour are no more valid

 

not valid

 

 

 

 

 

 

 

 

Coins

naira 2, 1; kobo 50 (2007)

xx / xx %

in circulation

 

naira 1, kobo 50, 25, 10, 1 (1991+) are withdrawn from circulation in February 2007

?? / ?? % 

??

Area

(sq km)

Population (2005)

Language/Ethnicity

Ethnicity / Religion

Life duration

GDP per capita

(world position)

923 768

131 859 740

English (official)

Islam 50 %

male 46.21

 

Lagos 8 349 700

Hausa, Yoruba,

Christian 540 %

female 47.29

2005 : 1 000 (213)

Kano 3 329 900

Ibo, Filani

 

 

 

NGN 1 000 (2005)(151*78mm)

NGN 500 (2001)(151*78mm)

NGN 200 (2000)(151*78mm)

2 naira (2007)(24.5mm,5.5g)

1 naira (2007)(27.5mm,12g)

50 kobo (2007)(24mm,5.5g)

10 kobo (1991)

1 kobo (1991)

1 kobo (1973+)

1 naira (1991,93)

50 kobo (1991,93)

25 kobo (1991)

10 kobo (1991)

1 kobo (1991)

1 kobo (1973+)

NGN 100 (1999)(151*78mm)

NGN 50 (2009) polymer

NGN 50 (28.2.2007)

NGN 50 (1991+ , similar)(151*78mm)

NGN 20 (28.2.2007+)(polymer)

NGN 20 (1984+, similar)(151*78mm)

NGN 10 (2009) polymer

NGN 10 (28.2.2007)

NGN 10 (1984+, similar)(151*78mm)

NGN 5 (2009) polymer

NGN 5 (28.2.2007)

NGN 5 (1984+, similar)(151*78mm)