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The 2023 Nigerian currency crisis was precipitated by a shortage of cash currency (the naira) and an attempt by the Nigerian government to force citizens to use a newly created government-sponsored central bank digital currency. This led to extensive street protests in mid-February 2023.
This also made Nigeria the last country in the world to abandon the £sd currency system in favour of a decimal currency system. There was a government plan to redenominate the naira at 100:1 in 2008, but the plan was suspended. The currency sign is U+20A6 ₦ NAIRA SIGN. The name "Naira" was coined from the word "Nigeria" by Obafemi Awolowo.
On 24 September 2023, Nigerian Tribune journalist Segun Adebayo, published an article about Naira Marley under pressure to return to Nigeria and the article was shortly deleted. The journalist wrote, "Marley who many people accused of being responsible for Mohbad’s death is said to have grown tired of being fingered in his former protégé ...
People were told they would receive 2.5 million naira ($1,500; £1,180) for each person killed in their family, while those injured were offered about 750,000 naira ($500).
The ten Naira note, distinguished by its orange tint, bears the likeness of Alvan Ikoku, a figure notable for his contributions to education in Nigeria.His representation on the note commemorates his pioneering efforts in establishing one of the earliest African-owned secondary schools, thus exemplifying the nation's commitment to educational development.
Ilerioluwa Oladimeji Aloba (3 January 1996 – 12 September 2023), known professionally as MohBad, was a Nigerian rapper, singer, and songwriter from Lagos.Mohbad was formerly signed to Naira Marley's Marlian Records and left the label in 2022.
4 February-ongoing – 2023 Nigerian protests begin began due to the naira, and protests due to the election. [3] 25 February – 2023 Nigerian general election - Nigerians elect a new president and members of their National Assembly. [4] 3 March – Sixteen people are killed when a pipeline explodes in Emohua, Rivers State. [5]
The Nigerian currency is the naira (NGN). As of June 2006, the exchange rate was about US$1=NGN128.4. As of June 2019, it stands at US$1 =NGN357. In recent years ...