NGN

Business & Finance abbreviation · Currency

NGN
Stands forNigerian naira
CategoriesBusiness & Finance

NGN stands for Nigerian naira, a currency abbreviation.

Nigeria's currency, issued by the Central Bank of Nigeria and divided into 100 kobo. It was devalued sharply in 2023 and 2024 when the government unified its multiple exchange rates.

Example: The Lagos ride-hail fare was NGN 6,500 across the island.

Usage notes

Introduced in 1973, the naira replaced the Nigerian pound at two naira per pound, making Nigeria one of the last former British colonies to decimalize. A 2022-2023 banknote redesign led to severe cash shortages and long bank queues. Prices are written with the ₦ symbol.

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Edited by the AbbreviationList.com team. Spotted an error or a missing meaning? Contact us.