Here’s the History of Money In Nigeria
The Naira (₦) is the Nigeria official currency, but did you know that Nigerians didn’t start using Naira until 13 years after independence.
In this write up , we’ll tell you five things you probably didn’t know, but need to know about the fascinating history of money in Nigeria.
Let’s take you back in time.
1. Nigerians haven’t always had money.
Before the colonial era, Nigerians traded differently. Value was exchanged through systems like trade by barter where people exchanged goods and services for other goods and services.
If you wanted yams, for example, you had to have something valuable like ivory or cotton to give in exchange. People also traded things like salt, beads, tobacco, gin and fish for whatever they wanted.