Meet the Nigerian Naira

Nigeria is a West African nation with a land area about the same as the portion of the U.S. east of the Appalachian Mountains. Its population of 182 million makes it the most populous country in Africa and the seventh-largest in the world. As of 2014, Nigeria’s nominal GDP of $1 trillion overtook South Africa as the continent’s largest economy. The World Bank considers Nigeria as an “emerging economy,” and it has been called one of the “next eleven” nations to emerge as a global economic power.

Currency Fluctuation Factors and Predicted GDP Growth

Even though oil accounts for only about 10% of Nigeria’s GDP, the volatility of global oil prices has taken a toll on the country’s economy over the years. Decades of mismanagement and corruption caused wild fluctuations in the value of the Naira, Nigeria’s currency. Currently, the Naira trades at roughly 200 to the U.S. dollar. Recent political changes have been encouraging, though, and in 2011, Citibank predicted that Nigeria would have the world’s largest GDP growth through 2050.

Collector’s Favorite

Collecting currency from around the world is a popular way to learn history and geography while gathering interesting and beautiful designs that give insights into a nation’s character. The Nigerian Naira has become one of the favorites of currency collectors, and examples in top condition are becoming harder to find in quantity.

Uncirculated 5 and 10 Naira Notes

The Great American Coin Company® is pleased to offer uncirculated 5 and 10 Naira notes in quantities of 100 to 1,000 while they last. They’re part of our wide selection of U.S. and foreign coins and banknotes available for both seasoned and beginning collectors.

Whether you’re a seasoned collector or just getting started, be sure to browse the selection of U.S. and foreign coins and banknotes available online from The Great American Coin Company®. Our inventory is constantly changing, so be sure to check back often.

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