Nigerian naira
currency of the Federal Republic of Nigeria / From Wikipedia, the free encyclopedia
The naira (sign: ₦) is the official currency of Nigeria. 100 Kobo makes one naira.
Nigerian naira | |
---|---|
ISO 4217 Code | NGN |
User(s) | Nigeria |
Inflation | 8.2%[1] |
Source | 2014 |
Subunit | |
1/100 | Kobo |
Symbol | ₦ |
Plural | Naira |
Kobo | Kobo |
Coins | 50 Kobo, 1 & 2 Naira |
Banknotes | 5, 10, 20, 50, 100, 200, 500 & 1000 Naira |
Central bank | Central Bank of Nigeria |
Website | [http://www |
Printer | Nigerian Security Printing and Minting Company Limited |
Website | [http://www |
Mint | Nigerian Security Printing and Minting Company Limited |
Website | [http://www |
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 Currency & Branch Operations Department of the CBN is in charge of currency management. They get the naira notes and coins from its special printers. Then they distribute/supply, process, and reissue it. They also receive and destroy old and unusable bank notes and coins.
It was announced by the CBN(central bank of Nigeria)announced that on the fifteenth of December 2022 Nigeria's currency is going to have a new look it was also announced that by January 2023 everyone in Nigeria is going to use the new currency. The news was later changed till the ending of 2023 ( till December).