Showing posts with label Adebowale Electrical Industries. Show all posts
Showing posts with label Adebowale Electrical Industries. Show all posts

Friday, October 30, 2026

Our Disappearing Currency Denominations

 By Adekunle Adekoya

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. 

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 independence.

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. From two shillings were coins. The two and half shillings coin was called a guinea.