Naira

The Naira is the official currency of Nigeria, used for everyday transactions like buying goods or paying for services. It’s represented by the symbol ₦ and divided into smaller units called kobo. The value of the Naira fluctuates based on Nigeria’s economic conditions and exchange rates with other currencies. As with other currencies, it facilitates trade, savings, and investments within Nigeria and internationally. Its stability and value are influenced by factors such as government policies, inflation, and global oil prices, which are significant for Nigeria’s economy.