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).

Forex liquidity improves by 57% as Nigeria's exchange rate at the NAFEX window remained stable to close at N386/$1 during intraday trading on Monday, September 28.

Also, the naira remained stable for the third consecutive day, closing at N467/$1 at the parallel market on Monday, September 28, 2020.

At the advent of democratic rule(Civilian rule) in 1999 under the People's Democratic Party (PDP), the US dollar was sold for N21.89; Under the administration of former President of Nigeria, Doctor Goodluck Ebele Jonathan, Naira was sold at 125 per Dollar, while he met it at 95 per United states one(1) dollar. On May 29, 2015, under the All Progressive Congress(APC) administration it was N199. Since then, Naira value keep on demoting.