JAMB UTMEEconomicsNigerian Economy2023

Nigeria's currency:

ACedi
BNairaCORRECT
CDollar
DPound
AI
Toasta AI Explanation
Why the answer is B, and why the others tempt you.
**The reasoning** This is a straightforward factual question about national identity. Nigeria's official currency is the **Naira** (₦), which has been in use since 1973 when it replaced the British pound. The Naira is subdivided into 100 kobo. You interact with it daily when buying food, paying transport, or shopping — it's the legal tender recognized across all 36 states and the FCT. **Why the wrong options tempt you** - **Cedi** is Ghana's currency — easy to confuse if you're thinking of West African countries - **Dollar** (USD) is widely mentioned in international contexts and some Nigerian businesses quote prices in it, but it's not our official currency - **Pound** (GBP) was Nigeria's currency during colonial times until 1973, so it has historical connection but is no longer current **Quick takeaway** The Naira is Nigeria's currency — if you've ever held money in this country, you've held Naira, so trust your everyday experience!
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