Nigerian’s national currency is the Naira, the name of which is a contraction of “Nigeria”. The Nigerian Naira was introduced in 1973, replacing the Nigerian Pound. The currency sign of the Nigerian Naira is NGN. The naira is subdivided into 100 kobo.
The Nigerian Naira is a closed currency, with import and export restrictions on the amounts travelers can taken in or out of the country. This is the reason why bureaux de change outside of Nigeria do not exchange Nigerian Naira.