Nigeria: decimal coinage

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Obverse of the 25 kobo coin of 1991.

In 1991 the diameter of the 25 kobo coin was reduced from 27 mm to 22.5 mm.

It now weighed 4.5 grams instead of 10 grams.

Its metal content was changed from copper-nickel to copper-plated steel.

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Reverse of the 25 kobo coin of 1991.

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Obverse of the 50 kobo coin of 1991.

In 1991 a new denomination of 50 kobo was issued.


The coin was 12-sided and was made of nickel-plated steel.

It weighed 5.5 grams and had a diameter of 24.5 mm.

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Reverse of the 50 kobo coin of 1991.

The reverse design featured ears of corn (maize).

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Obverse of the 1 naira coin of 1991.

In 1991 the first circulation 1 naira coin was issued.


The coin was made of nickel-plated steel.

It weighed 12 grams and had a diameter of 27.5 mm.

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Reverse of the 1 naira coin of 1991.

The reverse of the coin portrayed Herbert Macaulay.

He is considered to have been the founder of Nigerian nationalism.

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Obverse of the 50 kobo coin of 1993.

In 1993 an amended 50 kobo coin was issued.

Instead of being 12-sided, it was now round.

However, it had a polygonal inner rim.

The inner rim had 12 notches.


In every other respect, the coin was unchanged.

It was of the same size, weight and metal.

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Reverse of the 50 kobo coin of 1993.

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ANALYSIS OF THE COINAGE FROM 1973 TO 1993

Nigeria introduced its first decimal coinage inn 1973.

The half kobo was the lowest denomination.

It was not minted after 1973.


Otherwise, the coinage remained unchanged until 1987.

The long motto then replaced the short motto on the coat arms.

This change to the obverse was not readily visible.

The 5 kobo coin of 1986 was the only short motto type issued after 1976.

The 5 kobo coin was no longer minted after 1989.

Nigeria's coinage followed worldwide trends in the 1990s.

The 1, 10 and 25 kobo coins were all significantly reduced in size.

They were all also minted in copper-plated steel to reduce their cost.


Inflation had reached 54% in 1988 and remained high until 1997.

This was reflected in the issue of a 50 kobo and 1 naira coin in 1991.

The coin types of the 1990s were all dated 1991 or 1993.

They were all one-year types, except for the 1 naira coin.

That was issued in 1991 and 1993.


The next new issue dates occurred in the year 2006.

These were all new coin types, however.

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NEW COIN TYPES OF 2006

After 1993, no new coin types were issued until 2006.

Three new coin types were issued in 2006.


The 50 kobo coin was reduced in size.

The 1 naira coin became bimetallic.

And a bimetallic 2 naira coin was added to the coinage.

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Obverse of the 50 kobo coin of 2006.

In 2006 the 50 kobo coin was reduced in size.

Its diameter was reduced from 24.5 mm to 19.5 mm.

Its weight was reduced from 5.5 grams to 3.5 grams.


Otherwise the coin remained of the same shape and metal.

Its obverse and reverse designs also remained unchanged.

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Nigeria, 1 naira, 2006.

Nigeria issued a bimetallic version of the 1 naira coin in 2006 only.

It had a brass centre within a stainless steel ring.

It weighed 5.5 grams and was 21.5 mm in diameter.

The new coin was much smaller and lighter than the 1 naira coin of the 1990s.

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Obverse of the 2 naira coin of 2006.

Also in 2006 only, a bimetallic 2 naira circulation coin was issued.


It had a stainless steel center within a copper plated steel ring.

Its weighed 7.5 grams and had a diameter of 26 mm.

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Reverse of the 2 naira coin of 2006.

The attractive reverse design depicted Nigeria's National Assembly building.

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Nigeria's National Assembly building.