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The naira was introduced on 1 January 1973, [9] replacing the Nigerian pound at a rate of £1 = ₦2. [10] The coins of the new currency were the first coins issued by an independent Nigeria, as all circulating coins of the Nigerian pound were all struck by the colonial government of the Federation of Nigeria in 1959, with the name of Queen ...
The pound (symbol £) was the ... Coins with Nigerian naira; A detailed article on the banknotes of the Biafran pound pjsymes.com.au; Biafra: Coins Issued and Used ...
The pound was subdivided into 20 shillings, each of 12 pence. The Nigerian pound, at parity with sterling with free convertibility, [ 1 ] was replaced in 1973 with the decimal naira at a rate of £1 = ₦2, [ 2 ] making Nigeria the last country to abandon the pre-decimal £sd currency system .
A million millilitres or cubic centimetres (one cubic metre) of water has a mass of a million grams or one tonne. Weight: A million 80-milligram (1.2 gr) honey bees would weigh the same as an 80 kg (180 lb) person. Landscape: A pyramidal hill 600 feet (180 m) wide at the base and 100 feet (30 m) high would weigh about a million short tons.
The currency of Biafra had been the Nigerian pound until the Bank of Biafra started printing out its own notes, the Biafran pound. [51] The new currency went public on 28 January 1968, and the Nigerian pound was not accepted as an exchange unit. [51] The first issue of the bank notes included only 5 shillings notes and 1 pound notes.
In August 2014, he donated 150 million naira to assist the Nigerian government's efforts of treating and preventing Ebola. [31] In May 2016 he pledged $10 million to support Nigerians affected by the Boko Haram insurgency. [32] In March 2020, he donated 200 million naira to fight against the spread of COVID-19 in Nigeria. [33]
The "new Cedi" (1967–2007) was worth 1.2 Cedis, which made it equal to half of a pound sterling (or ten shillings sterling) at its introduction. Decades of high inflation devalued the new Cedi, so that in 2007 the largest of the "new cedi" banknotes, the 20,000 note, had a value of about US$2.
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.