The naira (currency symbol: ₦; code: NGN) is the official currency of Nigeria issued by the Central Bank of Nigeria (CBN)

The Central Bank of Nigeria (CBN) is the only issuer of legal tender currency throughout the country, Nigeria. The CBN controls the volume of money supplied in the economy to ensure monetary and price stability.

The naira was introduced on 1 January 1973, replacing the Nigerian pound at a rate of £1 = ₦2. The coins of the new currency were the first coins issued by an independent Nigeria, as all circulating coins of the Nigerian pound were struck by the colonial government of the Federation of Nigeria in 1959, with the name of Queen Elizabeth II on the obverse. This also made Nigeria the last country in the world to abandon the £sd currency system in favor of a decimal currency system.

The name "Naira" was coined from the word "Nigeria" by Obafemi Awolowo. However, Naira as a currency was launched by Shehu Shagari as minister of finance in 1973.

From 20 June 2016, the naira was allowed to float, after being pegged at ₦197 to US$1 for several months. On 14 June 2023, the Naira fell 23% in a day, to a rate of ₦600 to US$1, as the central bank abandoned its currency peg and allowed the naira to trade freely. On 19 July 2023, the Naira fell to a new record low of ₦853 to US$1.

In October 2021, President Muhammadu Buhari, launched the eNaira, the digital version of the state currency, Naira.

Nigeria experienced a currency crisis in the Naira in February 2023, as there was shortage of naira cash currency in the entire country whereby the citizens were forced by the Nigerian government to use the newly-created government -sponsored central bank digital currency. This development led to protest across Nigeria.