Nigeria 5 Pounds banknote 1958

Nigeria banknotes 5 Pounds note 1958 River Scene
Nigeria paper money 5 Pounds banknote 1958
Nigeria 5 Pounds banknote 1958 Issued by Central Bank of Nigeria

Obverse: River scene and palm trees.
Reverse: Date farming.

Nigeria banknotes - Nigeria paper money
Central Bank of Nigeria
15.09.1958 "River Scene" Pound Issue

5 Shillings   10 Shillings   1 Pound   5 Pounds

Nigerian pound

The pound was the currency of Nigeria between 1907 and 1973. Until 1958, Nigeria used the British West African pound, after which it issued its own currency. The pound was subdivided into 20 shillings, each of 12 pence. The Nigerian pound (which was at parity with the British pound with easy convertibility) was replaced with the introduction in 1973 of the decimal naira at a rate of 1 pound = 2 naira. This made Nigeria the last country to abandon the £sd currency system.

In 1918, emergency issues were made by the government in denominations of 1, 10 and 20 shillings. In 1959, the Central Bank of Nigeria introduced notes in denominations of 5 and 10 shillings, 1 and 5 pounds. Three series of notes were issued, in 1958, 1967 and 1968.

Coins were issued in 1959 in denominations of ½, 1, 3 and 6 pence, 1 and 2 shillings. The ½ and 1 penny coins were bronze and holed. The 3 pence coin, minted in nickel-brass, was a smaller version of the distinctive twelve sided threepenny bits that were used in the UK, Fiji, and Jersey. The higher denominations were struck in cupro-nickel.