NAIRA FOR POUNDS

The beginning of a new year is usually a busy period in Nigeria. It's a time when many travel for familynreunions. Still, the New Year of 1973, would have been busier than most other years for the staff of CBN(Central Bank of Nigeria), as well as members of the Decimal Currency National Publicity Committee, trusted with the important task of overseeing the smooth introduction of Naira notes to the Nigerian economy. Both groups had been working assiduously since 31st March. 1971, whennit was announced that Nigeria would change it's legal tender (the money used in the country) from Pounds(€), shillings(S), and pence(d)*** to Naira(#) and Kobo(K).
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In January 1973, Nigeria had 12 States and the new decimal currency was launched nationwide in each state capital. In the federal capital of Lagos, the Head of State, General Yakubu Gowon officially launched the new currency. After a brief speech, he and other members of the FEC(Federal Executive Council) exchanged their old money for Naira. It was a similar story in Ibadan, where the western state Military Governor, ***Brigadier Oluwole Rotimi, launched the new currency with a call for fair play on the part of merchants, petty traders and the general populace.
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Commercial banks had been closed to prepare for the changeover the previous friday (29th December, 1972), and their doors remained closed till 11am on Tuesday 2 January 1973, the day the decimal currency was launched . Millions of Nigerians, one in anticipation of seeing bd handling the new currency, and some in trepidation of being ripped off during the exchange of old currency for new, filled the banking halls throughout the nation. In rural areas, where the nearest bank was several kilometres away, citizens were able to exchange their money at the local sub-treasury office.
While the commercial banks and the government hoped that a period of 6 weeks would suffice for all pounds, shillings and pence (apini)to be traded for Naira and Kobo, Mr Scott Emuakpor, the chairman of the Decimal Currency National Publicity Committee, assured the general public that the old currency would still be accepted across the nation, until further announcements by the CBN.
GOOD BYE POUNDS STERLING
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WELCOME NAIRA
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Thanks for passing bye
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