Exchange rates in Nigeria. Exchange rates in Nigeria Nigerian naira to ruble

Other currencies of Nigeria: Nigerian Naira (NGN)

Nigeria's official currency is the naira. The Nigerian naira has an international symbol - NGN. One Nigerian naira is equal to 100 kobo. This Nigerian currency was introduced into monetary circulation in Nigeria on January 1, 1973, making the country the last country in Africa to abandon the 20-currency system. Relatively recently, new Nigerian naira banknotes with an improved design were released. The circulation of other currencies in Nigeria is officially prohibited, although in reality almost all hard currencies in the world are accepted in markets and private shops. The exchange rate of the Nigerian naira may be different in each shop. To protect the Nigerian naira banknote from counterfeiting, a watermark with the symbolic designation of the Central Bank of Nigeria and the emblem and a security strip with microtext are used. The obverse of all coins of the Republic of Nigeria is decorated with the state coat of arms and the inscription FEDERAL REPUBLIC OF NIGERIA. All the currency of Nigeria in one way or another uses the state coat of arms with a depicted shield divided into three parts by two ribbons, as a symbol of the rivers flowing in Nigeria. An eagle is depicted sitting on the shield, and the shield is supported by two horses standing on their hind legs. Using credit cards and traveler's checks is difficult, perhaps only in the capital. Currency exchange can only be done at Nigerian banks and official Nigerian exchange offices. Everywhere, both in the market and in stores, you can and should bargain. Nigeria is a country with a difficult crime situation; it is not recommended to enter into conflicts with the local population, carry large sums of money with you or leave them in a hotel room, or use a taxi in the dark, especially when there are strangers in it besides the driver. Due to an underdeveloped tourism industry and long-term wars, Nigeria's economy is in decline. High inflation makes it inconvenient to use the Nigerian currency in large quantities, which contributes to the underground economy of Nigeria. Fraud is quite common, especially when using foreign currencies, so it is recommended to change some amount (preferably Nigerian naira) in small denominations in advance for everyday use.

The currency of the Federal Republic of Nigeria is the naira, which is divided into 100 kobo and issued by the Central Bank of Nigeria.

Until 1959, the currency in Nigeria was the West African pound, equivalent to the pound sterling. With the formation of the Central Bank of Nigeria in 1958, the issuance of the national currency began - the Nigerian pound, equal to the pound sterling; West African banknotes and coins ceased to serve as legal tender in the country on July 1, 1962. On January 1, 1973, a new monetary unit was introduced - the naira, divided into 100 kobo, at the ratio of 2 naira = 1 Nigerian pound.

Currently in cash circulation there are banknotes in denominations of 5, 10, 20, 50, 100, 200, 500 and 1000 naira. The official international designation of this national currency is the letter combination NGN. Recently, new banknotes have been released into cash circulation, featuring smaller sizes and a modern design.

The front side of the 5 naira banknote (size - 130 x 72 mm, primary colors - cream and pale pink) is decorated with a portrait of Abubakar Tafawa Balewa, the reverse side is decorated with an image of drummers performing a national dance.

To protect the authenticity of banknotes, a watermark is used, which looks like the emblem of the Central Bank of Nigeria and the corresponding abbreviation CBN, and a security strip with microtext printed on it along the entire length, crossing the banknote to the right of its center.

Starting from 28 February 2007, new versions of banknotes ranging from 5 to 50 naira were introduced. Initially, they were all supposed to be made in polymer, but the release of plastic 5, 10 and 50 naira was delayed until the end of 2009 and only 20 naira were issued in polymer. The banknotes became slightly smaller (130 x 23 mm), their design remained unchanged. It was only in mid-2009, when Senusi Lamido Senusi took over as CBN Chairman, that he eventually redesigned the 5, 10 and 50 naira polymer notes.