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Nairaland Forum / Nairaland / General / Politics / Evolution Of The Nigerian Currency : Which One Did You Meet? (Pictures) (2878 Views)
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Evolution Of The Nigerian Currency : Which One Did You Meet? (Pictures) by Nobody: 11:34am On Nov 03, 2016 |
KissChrix: Source : https://www.naij.com/1031242-pictures-nigerian-money-1958-till-date-will-definitely-turn-head.html?source=index_featured |
Re: Evolution Of The Nigerian Currency : Which One Did You Meet? (Pictures) by Nobody: 11:37am On Nov 03, 2016 |
1. Trade by barter (exchange of farm produce, animals, textile, copper, etc) This system was adopted by people who lived in the same locality, and it involved giving what you had in exchange for what you needed. This exchange occurred mostly between individuals and their deities, and between friends and neighbours.
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Re: Evolution Of The Nigerian Currency : Which One Did You Meet? (Pictures) by Nobody: 11:38am On Nov 03, 2016 |
2. Cowries Cowries were used for buying and selling before banknotes and coins were introduced into the Nigerian economy. Payment of cowries was mostly made in cups or in bags.
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Re: Evolution Of The Nigerian Currency : Which One Did You Meet? (Pictures) by Nobody: 11:41am On Nov 03, 2016 |
3. The Nigerian shillings issued in 1958/1959 Even though this denomination is no longer in use in present day Nigeria, the shilling is the legal tender in Kenya and Uganda. If you happen to have about 5000 Shillings, you’d be N15,000 richer in Kenya and just about N400 richer in Uganda.
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Re: Evolution Of The Nigerian Currency : Which One Did You Meet? (Pictures) by Nobody: 11:42am On Nov 03, 2016 |
4. The Nigerian pound issued in 1967: Just in case you didn’t know before or you may have forgotten, this is a reminder that the legal tender in Nigeria used to be the pound. Right now, anyone who possesses a large amount of this currency might be regarded as a rich person, judging by the current exchange rate of the pound to the naira, which is pegged at N565 to £1.
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Re: Evolution Of The Nigerian Currency : Which One Did You Meet? (Pictures) by Nobody: 11:45am On Nov 03, 2016 |
5. Another five shilling note issued in 1968 As a war strategy, the shillings notes were changed to reflect different colours. While the banknotes were changed, the coins remained unchanged and in circulation.
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Re: Evolution Of The Nigerian Currency : Which One Did You Meet? (Pictures) by Nobody: 11:48am On Nov 03, 2016 |
6. One pound notes were reintroduced in a different colour in 1968 All the pound notes had their colours changed, including the five pound notes.
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Re: Evolution Of The Nigerian Currency : Which One Did You Meet? (Pictures) by Nobody: 11:50am On Nov 03, 2016 |
7. 50 kobo was introduced in 1973, and taken off the market in 1978 Just five years after the fifty kobo note was first circulated in Nigeria, it was decided that it should be taken off the market. The nickel-plated coins for the same denomination were introduced in 1989 and eventually withdrawn from the market in 2007.
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Re: Evolution Of The Nigerian Currency : Which One Did You Meet? (Pictures) by Nobody: 11:51am On Nov 03, 2016 |
8. The one Naira note: The one Naira note was introduced in January, 1973, by the Central Bank of Nigeria.
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Re: Evolution Of The Nigerian Currency : Which One Did You Meet? (Pictures) by tysontim(m): 11:53am On Nov 03, 2016 |
Chai! na this small pound Awolowo gave Igbos, people with large families that lost everything. Awolowo is really wicked imagine how many people he killed with starvation and wickedness that man wont know peace no wonder he committed suicide |
Re: Evolution Of The Nigerian Currency : Which One Did You Meet? (Pictures) by Nobody: 11:54am On Nov 03, 2016 |
9. The five Naira note: The five Naira note was first introduced in 1973, The green-coloured note bore the engraved portrait of Alhaji Sir Abubakar Tafawa Balewa who was the first prime minister of Nigeria. In 1984, the colours of the note were changed to mauve (a mix of pink and purple), and in 2007, the notes were changed from paper to polymer notes. The new polymer notes were circulated in 2007 and have remained in the market, even though the money itself may have reduced in value. Above : Old #5 note Below : New polymer #5 note
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Re: Evolution Of The Nigerian Currency : Which One Did You Meet? (Pictures) by Nobody: 11:57am On Nov 03, 2016 |
10. The ten Naira note: The 10 Naira note was also issued first in 1973, and is engraved with the portrait of Dr Alvan Ikoku, an educator and politician. The back is engraved with a picture of Fulani milk maids from northern Nigeria The 10 Naira note was reintroduced as polymer notes in 2007, and have remained in circulation. Above : Old #10 note Below : New polymer #10 note
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Re: Evolution Of The Nigerian Currency : Which One Did You Meet? (Pictures) by Nobody: 12:02pm On Nov 03, 2016 |
11. The 20 Naira note: The 20 Naira note was first introduced as paper notes in 1973, and shows the engraved portrait of General Murtala Muhammed, a former Nigerian military ruler. The notes were eventually changed to polymer notes in 2007. The polymer notes are still in circulation till date, the back of the polymer shows Ladi Kwali, a popular female potter. Above : Old #20 note Below : New polymer #20 note
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Re: Evolution Of The Nigerian Currency : Which One Did You Meet? (Pictures) by Nobody: 12:09pm On Nov 03, 2016 |
I met the last proposed N500 single note by Soludo |
Re: Evolution Of The Nigerian Currency : Which One Did You Meet? (Pictures) by Nobody: 12:09pm On Nov 03, 2016 |
12. The 50 Naira note: The 50 Naira note was the highest denomination in 1991 when it was first introduced into the Nigerian market. The back of the banknote depicted farmers working hard at their farm. The note was later changed to polymer in 2007, and the back was later changed to depict fishermen holding their big catch. Above : Old #50 note Below : New polymer #50 note
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Re: Evolution Of The Nigerian Currency : Which One Did You Meet? (Pictures) by Nobody: 12:13pm On Nov 03, 2016 |
13. The 100 Naira note: The hundred Naira note was first introduced in December 1999. The note shows the engraved portrait of Chief Obafemi Awolowo, a former premier of the western region. The back shows the popular Zuma rock, located in Niger state. The 100 Naira note was eventually changed on November 12, 2014 in commemoration of Nigeria’s 100 years of existence. The colour of the note was changed and the back was changed from Zuma rock to traditional dancers showing off their skills. The note also features a QR code which launches a website about Nigeria’s history when scanned (bet you didn’t know this).
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Re: Evolution Of The Nigerian Currency : Which One Did You Meet? (Pictures) by alienvirus: 12:15pm On Nov 03, 2016 |
You missed so many reintroductions |
Re: Evolution Of The Nigerian Currency : Which One Did You Meet? (Pictures) by Nobody: 12:17pm On Nov 03, 2016 |
14. The 200 Naira note: The 200 Naira note was introduced in 2000, and shows the engraved portrait of Alhaji Sir Ahmadu Bello, the first Premier of Northern Nigeria. The back shows Pyramid of bags of agricultural commodity, fruits, vegetables, cattle and livestock farming. This probably refers to those early days of trade by barter, or shows that Nigeria is a country that is rich in agriculture.
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Re: Evolution Of The Nigerian Currency : Which One Did You Meet? (Pictures) by Nobody: 12:19pm On Nov 03, 2016 |
15. The 500 Naira note: The 500 Naira note was introduced in 2001, and shows the engraved portrait of Dr Nnamdi Azikiwe, the first President of the Federal Republic of Nigeria. The back shows a picture of an offshore oil rig (why not? Nigeria is known for its oil after all).
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Re: Evolution Of The Nigerian Currency : Which One Did You Meet? (Pictures) by Nobody: 12:24pm On Nov 03, 2016 |
16. The 1000 Naira note: The 1000 Naira note was introduced in 2005, becoming the highest denomination of the nation’s currency. It is also the only Nigerian banknote that has the engraved portrait of two prominent Nigerians, Alhaji Aliyu Mai Bornu and Dr. Clement Isong, who were the first and second indigenous Governors of the Central Bank of Nigeria. The back shows a picture of the Central Bank of Nigeria’s corporate Head Office in Abuja.
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Re: Evolution Of The Nigerian Currency : Which One Did You Meet? (Pictures) by Nobody: 12:31pm On Nov 03, 2016 |
17. The ‘coins era': There was a time when coins were the ‘it’ thing. The Pence were mostly made from Gold, while the Shillings were made from Silver. These days they have become ‘extinct’ and even the Central Bank of Nigeria tried to bring them back into circulation with the introduction of the N2 coin, it didn’t catch on as the value of the Naira has been on a steady decline.
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Re: Evolution Of The Nigerian Currency : Which One Did You Meet? (Pictures) by Nobody: 12:35pm On Nov 03, 2016 |
Lalasticlala, Seun, which ones did you meet? |
Re: Evolution Of The Nigerian Currency : Which One Did You Meet? (Pictures) by Nobody: 1:48pm On Nov 03, 2016 |
alienvirus: Do you care to explain? |
Re: Evolution Of The Nigerian Currency : Which One Did You Meet? (Pictures) by Nobody: 1:49pm On Nov 03, 2016 |
Re: Evolution Of The Nigerian Currency : Which One Did You Meet? (Pictures) by alienvirus: 2:10pm On Nov 03, 2016 |
KissChrix: eg
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Re: Evolution Of The Nigerian Currency : Which One Did You Meet? (Pictures) by seunny4lif(m): 2:28pm On Nov 03, 2016 |
KissChrix:The best |
Re: Evolution Of The Nigerian Currency : Which One Did You Meet? (Pictures) by Nobody: 5:31pm On Nov 04, 2016 |
seunny4lif: You don old o |
Re: Evolution Of The Nigerian Currency : Which One Did You Meet? (Pictures) by seunny4lif(m): 6:44pm On Nov 04, 2016 |
KissChrix: |
(1) (Reply)
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