Nigerian naira (NGN)

The Nigerian naira (symbol: ₦, code: NGN) is the official currency of Nigeria, subdivided into 100 kobo. Introduced on January 1, 1973, by the Central Bank of Nigeria, the naira replaced the Nigerian pound at a rate of two naira for one pound, making Nigeria the last African nation to abandon the imperial monetary system in favor of a decimal standard. Its value is governed through managed floating regimes and central bank policy.