Q: What currency is used in Nigeria?

A Naira
B Dollar
C Pound
D Cedi

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Answer: A

Explanation:

The Naira is the official currency of Nigeria, represented by the symbol ₦. Introduced in 1973, the Naira replaced the Nigerian pound, which was used during British colonial rule. The currency is managed by the Central Bank of Nigeria, which is responsible for monetary policy and maintaining currency stability. The Naira is subdivided into 100 kobo, though kobo coins are rarely used today due to inflation. Currency denominations include various notes and coins, with the 1000 Naira note being the highest denomination. The Naira plays a crucial role in Nigeria’s economy, particularly in trade and consumer spending.

Q: What currency is used in Nigeria?

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