What is the name of Nigeria’s currency?

The currency of Nigeria is the Naira introduced in 1973 to replace the pound reflecting the country’s post-colonial economic independence. Named to symbolize national identity the Naira facilitates trade and financial transactions in Africa’s largest economy. Its introduction marked a shift from colonial monetary systems strengthening Nigeria’s economic sovereignty. Historically the Naira’s value has been influenced by oil exports and global market fluctuations. Its significance lies in supporting Nigeria’s economic policies and fostering regional trade within West Africa enhancing financial stability and national pride.