What is Nigeria’s currency?

Here is the question :

WHAT IS NIGERIA’S CURRENCY?

Here is the option for the question :

• Dinar
• Dollar
• Naira
• Rand

The Answer:

And, the answer for the the question is :

Explanation:

[STC001730] The naira is the official currency of Nigeria. It has been in use since January 1973, when the government moved to a decimalized system, with one basic currency and sub-units of that currency. In the case of Nigeria, the naira is considered to be the “major unit,” while the kobo is considered to be the “minor unit,” with 100 kobos being equivalent to one naira. Before 1973, the nation’s currency was the Nigerian pound, which was a holdover from its days when it was a colony of the United Kingdom. There are now banknotes in circulation for the naira that come in a variety of denominations, including 1, 5, 10, 20, and 100. On the reverse of each banknote is the picture of a notable Nigerian citizen. The Nigerian prime minister, Sir Abubarkar Tafawa Balewa, is shown on the five naira bill, for instance.