Nigeria is a country that lies in West Africa. It faces the Atlantic ocean in the south. Its capital is Abuja and the largest city is Lagos. The total area of Nigeria is 356,669 square miles. Nigeria is the most populous country in Africa. Its official language is English and about 500 other languages have been spoken which made Nigeria one of the most linguistically diverse countries in the world.
The history of Nigerian Naira.
The Naira is the current unit of currency in Nigerian with the code is NGN. It was first introduced on 1 January 1973 as a replacement for the Nigerian Pound.
The first set of banknotes was issued in 1912 by the West African Currency Board (WACB) with proper ink and the highest banknote was 1 pound. However, the WACB has retreated, then the Central bank of Nigeria took over control in 1959 and they had changed a little detail in the banknote series from “FEDERAL OF NIGERIA” to “FEDERAL REPUBLIC OF NIGERIA''. Following the changing of the government from metric to decimal. The Naira was created.
The 20 naira notes were introduced on 11 February 1977. It featured a portrait of the Head of State General Murtala Ramat Muhammed who is a national hero of Nigeria. Later, the 1, 5, 10 naira notes were added. It was decorated with portraits of three eminent Nigeria. On the reverse side, it was carved with various scenes of Nigeria.
Since 1999, the 100, 200, 500, 1 000 naira notes were contributed one by one until 2005.
Since 1977, the banknotes have been changed to various colors for different series to make them easier to identify.