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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.
This also made Nigeria the last country in the world to abandon the £sd currency system in favour of a decimal currency system. There was a government plan to redenominate the naira at 100:1 in 2008, but the plan was suspended. The currency sign is U+20A6 ₦ NAIRA SIGN. The name "Naira" was coined from the word "Nigeria" by Obafemi Awolowo.
The first Nigerian note with this value was issued in December 1999 and the Centenary version was launched in 2014. [1] Obafemi Awolowo , a nationalist and statesman who played a key role in Nigeria's independence movement, has been featured on the obverse of the bill since 1999.
The price of petrol has increased from 65 naira ($0.40; £0.26) per litre to at least 141 naira in filling stations [6] and from 100 naira to at least 200 naira on the black market, from which many Nigerians buy their fuel.
The first Nigerian note with this value was issued in November 2000. [1] Sardauna of Sokoto Ahmadu Bello has been featured on the obverse of the bill since 2000. On the reverse of the banknote is a pyramid of agricultural commodity, livestock farming, the National Coat of Arms, yellow trumpet flowers, and the denomination. [2]
Nigeria's inflation rate rose to 15.63 per cent in December 2021 compared to 15.40 per cent in November, the National Bureau of Statistics announced on January 17, 2022. The statistics office said the prices of goods and services, measured by the Consumer Price Index, increased by 15.63 per cent in December 2021 when compared to December 2020.
Suspected Islamist militants killed 40 farmers in an attack on the Dumba community in Nigeria's northeastern Borno State on Sunday, a senior state official said on Monday. The militants were ...
The five hundred naira Nigerian note is a denomination of Nigerian currency. It was introduced in April 2001, and it was the highest currency in Nigeria when it was introduced until the 1000 naira was introduced. [1] The obverse of the note features a portrait of Nnamdi Azikiwe. The reverse features an off-shore oil rig and the Coat of arms of ...