Banknotes of Nigeria

The official currency of Nigeria is the Naira, issued by the Central Bank of Nigeria. Paper money was first introduced in Nigeria in 1973 with the launch of the Naira, replacing the pound at a conversion rate of 2 Naira to 1 pound. A notable reform occurred in 1991 when the currency underwent a redenomination to simplify transactions. Collectors find the variety of Nigerian banknotes appealing due to their vibrant colors and intricate designs. A striking feature of the 200 Naira note, introduced in 2005, is the depiction of the Nigerian coat of arms and the image of the traditional healer, symbolizing the nation's cultural landscape and emphasizing health and wellness themes.