Thenaira is the currency of Nigeria. One naira is divided into 100 kobo. History of Currencies of Nigeria. Nigeria made history as the last nation to do away with the £sd currency system when it disbursed theNaira on January 1, 1973. Thenaira was used in place of the pound at a rate of one pound to two naira. Keywords: NigerianNaira, Nigeria money, nairaNigeria, Nigeria new, Nigeriannaira value, currency of Nigeria, Nigerian economy. This is an AI-generated summary of the content, and is not intended to provide factual context. The Central Bank of Nigeria (CBN)'s policy decisions have dramatically influenced exchange rates. In 2016, when the CBN abandoned its currency peg to adopt a more flexible exchange rate system, theNaira's official rate shifted from ₦197 to ₦280 against the dollar. How to exchange NigerianNaira. Tips for using NigerianNaira safely and securely. The NigerianNaira is the official currency of Nigeria. TheNaira is divided into 100 kobo. Currency conversion rates from Qatari riyal to NigerianNaira today Sat, 16 May 2026: convert from Qatari riyal to NigerianNaira and also convert in a reverse direction. Rates are based on real time exchange rates.