What is the currency of Nigeria, whose ISO 4217 code is NGN?

The currency of Nigeria with the ISO 4217 code NGN is the Nigerian naira.

The naira became Nigeria’s currency on 1 January 1973, replacing the Nigerian pound. Its name is derived from “Nigeria,” and the currency is divided into 100 kobo. The Central Bank of Nigeria is responsible for issuing and managing the country’s currency.

Nigeria’s change from pounds, shillings, and pence to naira and kobo reflected the country’s move toward a decimal monetary system. The reform made calculations simpler and aligned the currency with a system based on 100 minor units per naira.

The naira’s symbol is ₦, introduced in the 1970s. Nigerian banknotes and coins have featured national figures, landmarks, and symbols. The naira is distinct from the Ghanaian cedi and from the West African CFA franc, both of which belong to other monetary systems in the region.