Q: What is the currency of Nigeria?

A Dollar
B Naira
C Cedi
D Franc

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Answer: B

Explanation:

The official currency of Nigeria is the Naira, denoted by the symbol "₦" and code "NGN." Introduced on January 1, 1973, the Naira replaced the Nigerian pound at a rate of 2 Naira to 1 pound, following Nigeria’s decision to decimalize its currency. The Central Bank of Nigeria (CBN) regulates the currency, issuing various denominations of coins and banknotes. The Naira plays a critical role in Nigeria's economy, affecting trade, inflation, and purchasing power, especially amid fluctuating global oil prices, given Nigeria's reliance on oil exports.

Q: What is the currency of Nigeria?

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