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Nigerian Currencies: How They value And Some things You Need To Know About Them

All Nigerian Notes

Nigerian Currencies: How They value And Some things You Need To Know About Them. when we say currency, we definitely refer to the money used to purchase goods and services within a particular region. Today, we will discuss with you the currency which Nigerians use to buy goods and services in Nigeria.

See also: How parents should help their child to succeed academically.

If you are not a Nigerian and originally use Nigerian currency, but hear about it and want to know it, then in this article, we will discuss with you everything about Nigerian currency, Naira.

You will know the appearance, features, different notes and maintenance of Nigerian currency right here in this article.

Table of Contents

How Do Nigerian Currencies Look

Nigerian Currency: How  it value And Some things You Need To Know About It

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Currently, there are eight (8) different notes of Naira in Nigeria. All of them can be used to purchase goods and services nationwide.

Below are the eighth different types of Naira note in Nigeria.

  1. Five (5) Naira
  2. Ten (10) Naira
  3. Twenty (20) Naira
  4. Fifty (50) Naira
  5. One hundred (100) Naira
  6. Two hundred (200) Naira
  7. Five hundred (500) Naira
  8. One thousand (1000) Naira

Above are the types of Naira note that we currently have in Nigeria and the good news is that they are acceptable to be exchanged during buying and selling of goods and services nationwide.

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What You Need To Know About Nigerian Currencies

What you need to know about Nigerian currency presently is that, the Nigerian currency operators have not made any note of Naira apart from the ones listed above..

That is, Nigeria has not got a note of one Naira to four Naira, but it has five Naira note. If you want to buy a goods that cost fifteen Naira what you would do, you asked? Then add a note of your five Naira and ten Naira and give to the seller.

What Symbol Does Represent Nigerian Money

That is a good question to answer. The symbol that represents our Nigerian currency is #.

If you want to keep remembering it and how it is, then just write capital letter N and write two lines across its centre.

Any places that you see #, then just remember that it is a Nigerian currency that such place is trying to talk about.

What Is The Name Of Nigerian currency

Do you want to know how the money that Nigerians use is called, like United States named theirs as United States dollar (USD)? Then here is the name of Nigerian currency. Nigerian currencies, Naira are all signed Central Bank of Nigeria (CBN) and some pictures of former Nigerian leaders.

The name of Nigerian currency is Nigerian Naira (#) and it is denoted by NGN.

Meanwhile, if you are a Nigerian, you can make #5k and above daily with Telecom business. If you are interested, then click here to know more.

Fearture or Appearance Of Nigerian Naira

Is Nigerian Naira portable? You may ask that, right? Then in this paragraph, we will tell you how the Nigerian currency’s appearance or fearture is.

We are happy to bring to your notice that in the olden days, Nigerians used heavy and iron-like currency to buy goods and services. But for now, Nigerians are using leather-like and paper currency and the good news is that they are portable even though they are in large quantity (i.e, millions of Nairas).

Which Notes Of Nigerian currency Is Paper And Which One Is Leather

Nigerian currency is divided into eight different notes, some are leather and some are paper.

Below are their categories.

  1. Five (5) Naira leather
  2. Ten (10) Naira leather
  3. Twenty (20) Naira leather
  4. Fifty (50) Naira leather
  5. One hundred (100) Naira paper
  6. two hundred (200) Naira paper
  7. Five hundred (500) Naira paper
  8. One thousand (1000) Naira paper

That is, from five Naira note to fifty Naira are leather and from one hundred Naira to one thousand Naira are paper.

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Maintenance Of Nigerian Currency (Naira)

Most sellers and buyers know Nigeria do not exchange their goods and services with tore currency, hence, Nigerian currencies need to be maintained in order to make them exchangeable.

Below are the ways for maintaining Nigerian currency.

  • Do not keep them in the high exposed sunlight, because it makes them tear easily.
  • Stop collecting Nigerian money from somebody’s hand angrily, because doing so results to accidental tearing up of some of them
  • Do not keep them in an excessive wet or go out with them during raining especially with paper note ones.

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See also: How to make money in Nigeria for 2020 with Recharge And Get Paid (telecommunication networks business).

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