The Nigerian pound was the currency of Nigeria between 1907 and 1973. Until 1958, Nigeria used the British West African pound, after which it issued its own currency. The pound was subdivided into 20 shillings, each of 12 pence. The Nigerian pound (which was at parity with the British pound with easy convertibility) was replaced with the introduction in 1973 of the decimal naira at a rate of 1 pound = 2 naira. This made Nigeria the last country to abandon the £sd currency system.
Video Nigerian pound
Coins
Coins were issued in 1959 in denominations of ½, 1, 3 and 6 pence, 1 and 2 shillings. The ½ and 1 penny coins were bronze and holed. The 3 pence coin, minted in nickel-brass, was a smaller version of the distinctive twelve sided threepenny bits that were used in the UK, Fiji, and Jersey. The higher denominations were struck in cupro-nickel.
Maps Nigerian pound
Banknotes
In 1918, emergency issues were made by the government in denominations of 1, 10 and 20 shillings. In 1959, the Central Bank of Nigeria introduced notes in denominations of 5 and 10 shillings, 1 and 5 pounds. Three series of notes were issued, in 1958, 1967 and 1968.
See also
- Economy of Nigeria
Notes
References
Source of the article : Wikipedia
0 Comments