On this day: in history (1959), the Central Bank of Nigeria issued the Nigerian currency notes in the denominations of Five (5) pounds, One (1) pound, Ten (10/-) Shillings, Five (5/-) shillings, while the West African Currency Board issued banknotes where withdrawn.
The West African Currency Board was responsible for issuing currency notes in Nigeria from 1912 to 1959. The Nigerian currency was changed in 1962 to reflect the country’s republican status. The banknotes which bore the inscription, ’FEDERATION OF NIGERIA‘, now had, ‘FEDERAL REPUBLIC OF NIGERIA’, inscribed at the top. The notes were again changed in 1968.
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Created by Okey Obiabunmo
