In which year was pounds and shilling replaced with naira and kobo in Nigeria?

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Since Nigeria was frist colonized and then formed as a state by UK, for a long while it used pounds and shillings as its currency. However, the CBN (Cerntral Bank of Nigeria) has replaced them with naira back in 1973. This events took place on January 1st, 1973. Back at that time 1 pound equaled to 2 naira. What a fantastic exchange rate!

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