Nigerian pound

Until 1958, Nigeria used the British West African pound, after which it issued its own currency.

The Nigerian pound, at parity with sterling with free convertibility,[1] was replaced in 1973 with the decimal naira at a rate of £1 = ₦2,[2] making Nigeria the last country to abandon the pre-decimal £sd currency system.

The 3d 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.

In 1959,[3] the Central Bank of Nigeria introduced notes in denominations of 5/– and 10/–, £1 and £5.

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