The Currency Directory

Naira (NGN)

The Naira is issued by the Central Bank of Nigeria.

Alphabetic code
NGN
Numeric code
566
Symbol
₦
Minor units
2
Example
NGN 1,234.50
Used in
Nigeria

History

  1. 1973 The naira replaces the Nigerian pound as Nigeria changes to a decimal currency on 1 January, with the naira worth ten shillings.
  2. 2016 The central bank ends its managed rate of about 197 naira per US dollar and introduces a flexible interbank market, with trading starting on 20 June.
  3. 2023 The central bank merges the separate segments of the foreign exchange market into the Investors and Exporters window.

Live exchange rates

Sources