Our disappearing currency denominations, by Adekunle Adekoya.
For the younger generation who may not know, our currency was formerly denominated as pounds, shillings, and pence, since the colonial times till well after […] The post Our disappearing currency denominations, by Adekunle Adekoya appeared first on Vanguard News .
MANY Nigerians may not know it, but one of the issues at the root of our current economic hardship is that certain denominations of our currency have become utterly worthless.
Then, there were the £5, £1, 10/- (10 shillings), two and half shillings, one shilling, six pence, three pence, one penny and half-penny denominations.
The two and half shillings coin was called a guinea. One penny and half-penny coins had holes in the centre, with a hexagram around it; all the coins bore the inscription “Federation of Nigeria:, with the image of the Queen of England engraved on them on the other side. I remember that a loaf of bread, in 1970, the year the civil war ended, sold for two and half pence. A wrap of amala, or eba sold for one penny, and a cut of fish for the same amount.
MSEApp News is publishing an original rewrite of this tip for readers, based on reporting associated with Vanguard.