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3 Facts You May Not Know About the Naira Currency

The Naira currency got introduced on the 1st of January 1973. The Naira currency replaced the Nigerian pound at a rate of 2 Naira to a pound. The Naira coins were the first coins issued by an independent Nigeria.

Below are some interesting facts about the Naira which you may not have known.

1. Chief Obafemi Awolowo coined the name "Naira".

Chief Obafemi Awolowo's picture has been on the 100 Naira banknote since 1999. However, the name "Naira" was coined from the word "Nigeria" by Obafemi Awolowo. Awolowo coined the currency name when he was the Federal Commissioner for Finance between 1967 and 1971. He coined "Naira" from "Nigeria". He arrived at the currency name by collapsing the country's name. Awolowo was a nationalist and statesman who played other vital roles in the country.

2. The 100 Naira note got redesigned to include a code and other features in 2014.

The Central Bank of Nigeria (CBN) issued a 100 naira commemorative note to celebrate the centennial of Nigeria's existence on the 12th of November 2014. Many Nigerians may not notice the changes because the redesigned notes are similar to their regular issue. However, the 100 Naira notes got redesigned to include a new colour scheme and revised security features. The text "One Nigeria, Great Promise" is also printed on the current notes. There is a quick response code (QRC) on the back of the 100 Naira note. When scanned, the code leads users to a website about Nigeria's history.

3. The first time a woman's signature got printed on Naira notes was in 2019.

Priscilla Eleje is the first woman to have her signature on the Naira currency. At the time, Priscilla was the Director of Currency operations at the Central Bank of Nigeria. She was also the first female to occupy the said position.

Source: Here

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

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