Sign in
Download Opera News App





Foreign exchange

Throwbacks Photos Of Nigeria's Old Currency

Throwbacks Photos Of Nigeria's Old Currency

Nigeria has experienced change of currency since its colonization. It started with spending of cowries as a medium of exchange for goods and services, (that was before the British colonization). When the British-men came to colonize Nigeria, pounds sterling, which is the currency being spent in the Great Britain was introduced to Nigeria.

Soon, Nigeria noticed a change in economy and thought making their own currency will make them less dependent on the British-men. And this gave birth to Kobo and Naira. The Kobo had different denominations but only ₦1 was introduced then until after independent when different denominations were produced. Some paper notes were changed to polymers. Those changes can be noticed in ₦5, ₦10, ₦20 and ₦50. Some denominations were re-modified like the ₦50 notes during Nigeria's golden jubilee anniversary.

1 pound


1 naira

Old 20 naira note

50 kobo

5 shilllinngs

Let me know if you still have this notes with you as a mementos

Content created and supplied by: bjoemedia (via Opera News )

Cowries Kobo Naira Nigeria Old Currency


Load app to read more comments