What is Naira?

The Federal Republic of Nigeria’s sole legal tender money issuer is the Central Bank of Nigeria (CBN). The Central Bank of Nigeria (CBN) controls the flow of money into the economy to ensure price and monetary stability. The CBN’s Currency Operations Department is responsible for currency management. This includes the design, procurement, distribution, supply and processing of bank notes and coins.

What is the Nigerian equivalent of a 500 Naira bundle?

Nigeria’s currency is the naira, code N; sign: N. One naira can be divided into 100 kobo. A 500 naira bundle is 50,000in 100 parts. CBN calculates in Nigerian currency.

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