Nigeria new currency
You're referring to the new Nigerian currency!
Yes, Nigeria has introduced a new currency, the Nigerian Naira (NGN), which is the official currency of the country. The new currency was introduced in 2023 to replace the old Naira notes and coins.
Here are some key features of the new Nigerian currency:
- New design: The new Naira notes and coins have a new design, featuring iconic Nigerian landmarks, cultural symbols, and national heroes.
- Higher denominations: The new currency has higher denominations, including N1,000, N2,000, N5,000, and N10,000 notes, as well as coins in denominations of N1, N2, and N5.
- Improved security features: The new currency has enhanced security features, including watermarks, holograms, and micro-printing, to prevent counterfeiting.
- Digital currency: Nigeria has also introduced a digital currency, eNaira, which is a central bank-issued digital currency (CBDC) designed to promote financial inclusion and improve the efficiency of transactions.
The introduction of the new currency is part of the Nigerian government's efforts to improve the country's economy and financial system. The new currency is expected to reduce the use of cash and promote digital payments, which can help to increase financial inclusion and reduce corruption.
Here are some interesting facts about the new Nigerian currency:
- The new Naira notes and coins were designed by a Nigerian artist, Titi Ademola.
- The new currency features a portrait of the first president of Nigeria, Nnamdi Azikiwe, on the N1,000 note.
- The eNaira digital currency is expected to be launched in phases, with the first phase focusing on transactions between individuals and businesses.
Overall, the introduction of the new Nigerian currency is an important step towards modernizing the country's financial system and promoting economic growth.