The history of Juju in Nigeria comes from the traditional African religion also known as voodoo. The economy of Nigeria is among one of Africa's largest economies, and it has industries such as oil refining, construction materials, pharmaceuticals, and cement. Nigerian Currency History begins in 1912. This bank liquidated (that is, it was sold in payment of debts) in 1930 and was replaced by Mercantile Bank in 1931. However, the first indigenous bank In Nigeria was established in 1929 and was called Industrial and Commercial Bank. The West African Currency Board was the body legally responsible for issuing currency notes in Nigeria between 1912 to 1959 . Thus, $200 will feed 200 people in a day. More than 100 million Nigerians live in Poverty, generally accepted as living below $1 dollar a day. History Of Cooperative Society In Nigeria. 20 naira note. 5 naira note. History of Banking in Nigeria. History. Nigeria made history as the last nation to do away with the £sd currency system when it disbursed the Naira on January 1, 1973. Nigeria had used other forms of money (cowries and manilas) prior to the introduction of the Naira. The coins however are gradually fading away but they still remain valid legal tender in Nigeria, no matter how few and scarce they are. READ ALSO: Brief history of banking in Nigeria from 1990 till date. Below is a run down of Nigerian currency history from amalgamation till date. Lets put this into context: 200 US Dollars is 72,000 Naira. The History of the Nigerian Currency: Before the introduction of the Nigerian Naira and Kobo, which was in the year 1973, the Pound was the currency of Nigeria and was used between 1907 and 1973. This practice involves the sacrifice of blood to make money and carry out spiritual attacks. The Nigerian naira (NGN) is the official currency of the Federal Republic of Nigeria. 100 naira note. This type of money was decided to be valued by all members of a community. pictures of nigerian naira notes. However, prior to this time, the country had used various forms of money including Cowries and Manilas. History of money begins with the invention of commodity money. whose picture is on 50 naira note. Money laundering in Nigeria: meaning, causes, history, laws, notable cases, and effects show that it is bad, could destroy the moral fabric of the nation, frustrate entrepreneurs, and cause the nation its reputation and lead to economic slump. Usually, such products as salt, leather, seashells, pearls, or cloth represented commodity money. Over time, the issue of procurement of loan either for business setup or for other financial purposes continue to advances in a rate that is unimaginable, whereas loan and cooperative society starts as a household idea which later expanded even to a cooperative society that is generally recognized and sometimes financed by the government. 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