1 Nigerian naira Coin Design
The 1 Nigerian naira commemorative coin front design features the National Coat of Arms. The reverse coin design presents the bust of Olayinka Herbert Samuel Heelas Badmus Macaulay (1864 – 1946), who was a Nigerian nationalist and politician considered the founder of Nigerian nationalism, and the denomination between the date of birth and death of the character on the coin. This coin is part of the 2006 commemorative series: “ Herbert Macaulay 1864 – 1946 “. Its rim is plain, and its color is gold and silver.
Text: Federal Republic of Nigeria, CBN, 2006, Unity and Faith, Peace and Progress, Herbert Macaulay 1864 – 1946, One Naira, 1.
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The naira is the official currency in Nigeria since 1973 when it replaced the Nigerian pound after the national independence in 1960. The official currency symbol is ₦.
After establishing the naira as the legal currency of exchange, the Central Bank of Nigeria issued coins in denominations of 1⁄2, 1, 5, 10, and 25 kobo, followed by ₦1 in 1991.
In 2007, the 50 kobo and ₦1 notes were changed to coins, and the ₦2 coin was introduced.
Nigeria currency symbol
The currency code for Nairas is NGN, and the currency symbol is ₦. Therefore, 100 kobo are One Naira.