Nigerian pound

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Nigerian pound
Country: Nigeria
Subdivision: 1 pound = 20 shillings = 240 pence
ISO 4217 code : ?
Abbreviation: NGP
Exchange rate :
(1958–1972) 		1 GBP = 1 NGP

The Nigerian pound was the Nigerian currency between 1958 and 1972 . Nigeria used the West African pound until 1958, and from 1959 its own coins were issued. A pound was divided into 20 shillings, each of which could be divided into 12 pence . The Nigerian pound was fixed at the value of one British pound ; with the introduction of the decimal system on January 1, 1973, the Nigerian pound currency was abolished. The successor currency is the naira , which is equivalent to 100 Kobo and was half the value of a pound when it was introduced.

Coins

The following coins were first minted in 1959; only the coins over 1 penny (1961) and 1 shilling (1961, 1961) were minted. Commemorative or special coins are not known.

Face value Motif front Motif back metal particularities
½ penny Crown over indication of value Two entangled triangles bronze With hole
1 penny Crown over indication of value Two entangled triangles bronze With hole
3 pence Crowned head of Elizabeth II. Cotton plant Nickel brass Dodecagonal
6 pence Crowned head of Elizabeth II. Cocoa beans Cupronickel
1 shilling Crowned head of Elizabeth II. Oil palm branches Cupronickel
2 shillings Crowned head of Elizabeth II. Peanut tree Cupronickel Corrugated edge

Banknotes

1 pound banknote from 1968

In 1958 Nigeria introduced its own banknotes with denominations of 5 and 10 shillings and 1 and 5 pounds. In 1967 and 1968 further series were printed.

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