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naira

[nahy-ruh] /ˈnaɪ rə/
noun
1.
a paper money and monetary unit of Nigeria, equal to 100 kobo: replaced the pound in 1973.
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Based on the Random House Dictionary, © Random House, Inc. 2014.
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Examples from the web for naira
  • Controls are still in place, but the naira is no longer absurdly overvalued.
  • One and two naira pieces are coins, but look for bills for anything higher.
British Dictionary definitions for naira

naira

/ˈnaɪrə/
noun
1.
the standard monetary unit of Nigeria, divided into 100 kobo
Word Origin
C20: altered from Nigeria
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition
© William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012
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Encyclopedia Article for naira

monetary unit of Nigeria. The naira is divided into 100 kobo. The naira was introduced in 1973, when the country decimalized its monetary system and substituted the naira for the Nigerian pound (the country used the British pound sterling when it was a British colony), which was divided into shillings. The Central Bank of Nigeria has the sole authority to issue banknotes and coins. Coin denominations range from 12 kobo to 1 naira. Banknotes are denominated in values from 5 to 500 naira. Most of the banknotes contain images of previous political leaders important in Nigeria's history; for example, Sir Abubakar Tafawa Balewa, Nigeria's first prime minister, is pictured on the 5-naira note, and Nnamdi Azikiwe, Nigeria's first president, is on the 500-naira note

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Encyclopedia Britannica, 2008. Encyclopedia Britannica Online.
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