Nigerian pound

Nigerian pound
Unit
Symbol	£‎
Denominations
Subunit
1/20	shilling
1/240	penny
Symbol
shilling	s
penny	d
Banknotes	5/-, 10/-, £1, £5
Coins	½, 1, 3, 6 pence 1, 2 shillings
Demographics
User(s)	Nigeria
Issuance
Central bank	Central Bank of Nigeria
Website	www.cenbank.org

The pound was the currency of Nigeria between 1907 and 1973. Until 1958, Nigeria used the British West African pound, after which it issued its own currency. The pound was subdivided into 20 shillings, each of 12 pence. The Nigerian pound (which was at parity with the British pound with easy convertibility^[1]) was replaced with the introduction in 1973 of the decimal naira at a rate of 1 pound = 2 naira.^[2] This made Nigeria the last country to abandon the £sd currency system.

Coins

Coins were issued in 1959 in denominations of ½, 1, 3 and 6 pence, 1 and 2 shillings. The ½ and 1 penny coins were bronze and holed. The 3 pence 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. The higher denominations were struck in cupro-nickel.

Banknotes

In 1918, emergency issues were made by the government in denominations of 1, 10 and 20 shillings. In 1959,^[3] the Central Bank of Nigeria introduced notes in denominations of 5 and 10 shillings, 1 and 5 pounds. Three series of notes were issued, in 1958, 1967 and 1968.

Notes

^ Central Bank of Nigeria. "The Foreign Exchange Market in Nigeria". Retrieved 2007-05-21.
^ Central Bank of Nigeria. "http://www.cenbank.org/HistoryFactsAll.asp?sign=2". Retrieved 2007-05-21. {{cite web}}: External link in |title= (help)
^ Central Bank of Nigeria Retrieved 2011-03-30.

References

Krause, Chester L.; Clifford Mishler (1991). Standard Catalog of World Coins: 1801–1991 (18th ed.). Krause Publications. ISBN 0873411501.
Pick, Albert (1994). Standard Catalog of World Paper Money: General Issues. Colin R. Bruce II and Neil Shafer (editors) (7th ed.). Krause Publications. ISBN 0-87341-207-9.

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[1] Central Bank of Nigeria. "The Foreign Exchange Market in Nigeria". Retrieved 2007-05-21.

[2] Central Bank of Nigeria. "http://www.cenbank.org/HistoryFactsAll.asp?sign=2". Retrieved 2007-05-21. {{cite web}}: External link in |title= (help)

[3] Central Bank of Nigeria Retrieved 2011-03-30.

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v t e Currency units named pound, lira, or similar
Circulating	Egyptian pound Lebanese pound Pound sterling Alderney pound Falkland Islands pound Gibraltar pound Guernsey pound Jersey pound Manx pound Saint Helena pound South Sudanese pound Sudanese pound Syrian pound Turkish lira Ukrainian hryvnia
Local alternative currency	Bristol pound Brixton pound Exeter pound Lewes pound Liverpool pound Stroud pound Totnes pound
Defunct	Aeginetan mina AM-Lira Angevin pound Attic mina Australian pound Bahamian pound Bermudian pound Biafran pound British West African pound Byzantine litra Canadian pound Connecticut pound Cypriot pound Delaware pound Fijian pound French livre Livre parisis Livre tournois French colonial livre Guadeloupe livre Haitian livre New France livre Saint Lucia livre Gambian pound Georgia pound Ghanaian pound Irish punt Israeli lira Italian lira Italian East African lira Italian Somaliland lira Jaca pound Jamaican pound Japanese government-issued Oceanian pound Jersey livre Libyan pound Lombardo-Venetian lira Luccan lira Luxembourg livre Malawian pound Maltese pound Maryland pound Massachusetts pound New Brunswick pound New Guinean pound New Hampshire pound New Jersey pound New York pound New Zealand pound Newfoundland pound Nigerian pound North Carolina pound Nova Scotian pound Ottoman lira Palestine pound Papal lira Parman lira Pennsylvania pound Peruvian libra Pound Scots Prince Edward Island pound Rhode Island pound Rhodesian pound Rhodesia and Nyasaland pound Roman pound Sammarinese lira Sardinian lira Solomon Islands pound South Carolina pound Southern Rhodesian pound South African pond South West African pound Tongan pound Tripolitanian lira Tuscan lira Vatican lira Venetian lira Virginia pound Western Samoan pound Zambian pound
Historical antecedents (mass)	Roman pound (libra) Moneyer's pound (England) Grzywna (Grivna)
See also	Pound sign (£) Dinar Pound (mass) (℔) Roman currency Carolingian monetary system £sd

Coins

Banknotes

See also

Notes

References