The Nigerian currency is Naira (NGN). It was introduced in 1973 replacing the former currency pound that was used in Nigeria. 1 naira is divided into 100 kobo. The coins in kobo only exist in 50 as of 2007. Nigerian naira notes come in 2, 5, 10, 20, 50, 100, 200, 500 and 1000. The 50 kobo note and 1 naira note are not used anymore. With inflation historically high for the Nigerian Naira a number of revisions has been made for coins and notes the last decades. Today the nigerian naira floats and is not pegged to the US dollar since 2016.