Nigerian Naira in Saint Helenian Pound

NGN Nigerian Naira

Country of application:
Nigeria

Coin denominations in circulation:
50 kobo, 1, 2.

Denominations of banknotes in circulation:
5, 10, 20, 50, 100, 200, 500, 1000 naira.

History reference:
The Nigerian Naira is the currency of Nigeria, the name of the currency comes from the name of the state and the river. The naira was put into circulation on January 1, 1973 instead of the Nigerian p...ound, 1 pound = 2 naira. Thus, Nigeria became the last African state to abandon the duodecimal monetary system. Rampant inflation has occurred in Nigeria. The Central Bank of Nigeria said they were trying to keep the annual inflation rate below 10%. In 2011, CBN increased its key interest rate 6 times from 6.25% to 12%. On January 31, 2012, CBN decided to keep its key interest rate at 12% to reduce the impact of inflation due to cuts in fuel subsidies. On October 25, 2021, eNaira, an electronic analogue of the national currency, was launched in Nigeria. eNaira is not a cryptocurrency, all transactions are controlled by financial government agencies.

SHP Saint Helenian Pound

Country of application:
St. Helena Island, Ascension and Tristan da Cunha.

Coin denominations in circulation:
1, 2, 5, 10, 20, 50 pence, 1, 2 pounds sterling.

Denominations of banknotes in circulation:
5, 10, 20 pounds sterling.

History reference:
The Saint Helena pound is the currency of the Atlantic islands of Saint Helena and Ascension, which are constituent parts of the British Overseas Territory of Saint Helena, Ascension and Tristan da C...unha. It is set at parity with the British pound sterling, so both currencies are commonly accepted and circulated in Saint Helena. St. Helena originally held the British pound sterling, with the pound divided into 20 shillings and each shilling into 12 pence. Added to this were occasional local issues of paper currencies. One coin, a copper halfpenny, was minted in 1821 specifically for use in the islands and mixed with British coinage. The notes were denominated in pounds and shillings and were valued at face value with the British pound sterling. Until February 1961, the island also accepted the South African pound, which was then equal to the pound sterling, but this ceased with the introduction of the new decimal South African rand, with one rand worth only 10 shillings.