Nigeria: A Brief History of Naira

29 September 2009

Since attainment of independence from Britain on october1,1960, the country has severally changed her legal tender.

The country's legal tender was first changed on 1st July, 1962 and was changed later in 1968 as a war strategy to prevent Biafran authorities from using the country's currency notes. On 31st March, 1971, the then Head of State, Gen. Yakubu Gowon, announced that Nigeria would change to decimal currency as from 1st January, 1973.

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