Definition

Noun: 1. The basic unit of money in Nigeria: The naira is the official currency of Nigeria, issued by the Central Bank of Nigeria. It is subdivided into 100 kobo.

Usage

The word "naira" is used to refer to the Nigerian currency itself, both in specific amounts and in a general sense. Its symbol is ₦, and its currency code is NGN.

Examples

• Noun:
  • The price of the book is one thousand naira.
  • She exchanged her dollars for Nigerian naira at the bank.
  • The budget deficit is estimated in billions of naira.

Advanced Usage

• "Naira-denominated": Refers to assets, debts, or transactions valued in Nigerian currency.
  • The bond is a naira-denominated instrument.

Variants and Related Words

• Kobo (noun): A subunit of the naira; 100 kobo equal 1 naira.
  • The coin is worth fifty kobo.

Synonyms

• Nigerian currency: The official money used in Nigeria.
• NGN: The three-letter ISO currency code for the naira.

Noun

1. the basic unit of money in Nigeria