was quite a currency in it’s day.
exchanging at
TWO NIGERIA NAIRA = ONE BRITISH POUND STERLING
2:00 NGN = 1:00 BPD
₦2:00 = £ 1:00( Britain / United Kingdom )
and
ONE NIGERIA NAIRA = ONE NIGERIA POUND
1:00 NGN = 1:00 NPD
₦1:00 = £ 1:00( Nigeria )
at it’s introduction in 1973
by the administration of
Nigeria Army GENERAL JACK YAKUBU GOWON,
Military Ruler of Nigeria and
Military Head of State i.e Head of State, Federal Republic of Nigeria, Nigeria, Western Africa, Africa,
1967 – 1975 ( 8 years )
by 1979 i.e 6 years later it had been exchanging at
0.60 NIGERIA NAIRA i.e 60 KOBO ( LESS THAN ONE NAIRA ) = ONE UNITED STATES DOLLAR
0:60 NGN = 1:00 USD
₦0:60 = $1:00( U.S.A i.e United States of America )
and
0.75 NIGERIA NAIRA i.e 75 KOBO ( LESS THAN ONE NAIRA ) = ONE BRITISH POUND STERLING
0:75 NGN = 1:00 BPD
₦0:75 = £ 1:00( Britain / United Kingdom ). →→→
{ please click on the following links for more details :
(1) https://www.sparkgist.com/naira-dollar-exchange-rate-record/
(2) https://ng.opera.news/ng/en/business/57fa9dd74d2b5b06946ff519d4c1111b
(3) https://www.nigerianbanker.com/naira-to-dollar-exchange-rate-history-1972-to-2017/ }
→→→ and so it is in many ways an ABSOLUTE SHOCK and a HORRID DEVELOPMENT
that
TODAY DECEMBER 2020
●● not only is the NIGERIA ONE NAIRA exchanging at fluctuating rates anywhere around
300 AND/OR MORE NIGERIA NAIRA = ONE UNITED STATES DOLLAR
300:00 NGN = 1:00 USD
₦300:00 = $1:00( U.S.A i.e United States of America )
and
450? AND/OR MORE NIGERIA NAIRA = ONE BRITISH POUND STERLING
450:00 NGN = 1:00 BPD
₦450:00 = £ 1:00( Britain / United Kingdom ).
●● the NIGERIA ONE NAIRA CURRENCY UNIT
.. whether in PAPER NOTE or COIN FORMAT ..
has in fact and reality virtually disappeared from use in Nigeria.
HORROR OF HORRORS !!!!!!!!
what on earth could have happened to make the Nigeria Currency fall from such a great height and such a high position by international reckoning to it’s presently lowly state ?????????
what on earth could have happened to make such a popular and powerful currency unit disappear from use ?????????
the answer to both is probably a combination of both
A TALE OF MANY WOES
and
A TALE OF WRONG? ADMINISTRATIVE STEPS
it might be
heart-rending
heart-wrenching
deeply painful
to look at the 2 questions at the same time,
so, perhaps, we should just settle for a retrospective look at
how it came to pass i.e how it came to be
that
the beloved, widely popular and economically / financially powerful
NIGERIA ONE NAIRA CURRENCY UNIT
.. whether PAPER or NOTE ..
disappeared from use
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