Nigerian naira conversion

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this page last updated:: Sun 22 Jul 2018

Nigerian naira

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The Nigerian Naira is the official currency of Nigeria. One Nigerian Naira is worth 100 Kobo. Coins come in 50 Kobo as well as 1 and 2 Naira. Banknotes are distributed in 5, 10, 20, 50, 100, 200, 500 and 1000 Naira.

There were plans to revalue the Nigerian Naira in 2008 and introduce a new series of banknotes. This was abandoned by the president at the time and the currency has since suffered from high inflation rates and interest rises.


Nigeria originally used the British West African Pound until it was replaced with the Nigerian Pound and then the Nigerian Naira was launched on 1 January 1973. Nigeria was the last country to stop using pre-decimal currency.

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