The Ibadan School of History was the first, and for many years the dominant, intellectual tradition in the study of the history of Nigeria . It originated at the University of Ibadan , in Ibadan , Nigeria , in the 1950s, and remained dominant until the 1970s. The University of Ibadan was the first university to open in Nigeria, and its scholars set up the history departments at most of Nigeria's other universities, spreading the Ibadan historiography . Its scholars also wrote the textbooks that were used at all levels of the Nigerian education system for many years. The school's output is often considered to be most clearly embodied in the "Ibadan History Series".
40-555: Nwaubani argues that Kenneth Dike (1917–83) was the first modern scholarly proponent of Africanist history. His publications were a watershed in African historiography . With a PhD from London in 1940, Dike became the first African to complete Western historical professional training. At the University College Ibadan , he became the first African professor of history and head of a history department. He helped found
80-541: 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 all 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 favour of a decimal currency system. There
120-538: A result. Many top minds were co-opted with plum jobs in the administration and left academia. Others left the country entirely for jobs at universities in the West. The economic collapse of the 1980s also greatly hurt the scholarly community, especially the sharp devaluation of the Nigerian currency . This made inviting foreign scholars, subscribing to journals, and attending overseas conferences vastly more expensive. Many of
160-445: A ₦100 commemorative note to celebrate the centennial of Nigeria's existence. The notes are similar to its regular issue with the portrait of Chief Obafemi Awolowo on the front, but are redesigned to include a new color scheme, revised security features, and the text "One Nigeria, Great Promise" in microprinting. On the back is a QR code (Quick Response code) which when scanned leads users to a website about Nigeria's history. In 2019,
200-749: Is the currency of Nigeria . One naira is divided into 100 kobo . The Central Bank of Nigeria (CBN) is the sole issuer of legal tender money throughout the Federal Republic of Nigeria . It controls the volume of money supplied in the economy in order to ensure monetary and price stability. The Currency Operations Department of the CBN is in charge of currency management, through the designs, procurement, distribution and supply, processing, reissue and disposal or disintegration of bank notes and coins. A major cash crunch occurred in February 2023 when
240-660: The Historical Society of Nigeria and the National Archives of Nigeria . His book Trade and Politics in the Niger Delta 1830-1885 dealt with 19th-century economic politics in the Niger Delta. He focused on internal African factors, especially defensive measures undertaken by the delta societies against imperialist penetration. Dike helped create the Ibadan School of African history and promoted
280-529: The Neo-Marxist school began to gain currency. Social , economic , and cultural history also began to grow in prominence, as was the case at the Lagos school of history with its applied history approach. In the 1980s Nigerian scholarship in general began to decline, and the Ibadan School was much affected. The military rulers looked upon the universities with deep suspicion and they were poorly funded as
320-635: The Nigerian National Archives , and helped in the founding of the Historical Society of Nigeria. His book Trade and Politics in the Niger Delta 1830-1885 dealt with 19th-century economics politics in the Niger Delta . He focused on internal African factors, especially defensive measures undertaken by the delta societies against imperialist penetration. Dike helped create the Ibadan School of African history and promoted
360-639: The Nigerian civil war , he moved to Harvard University . He was a founder of the Ibadan School that dominated the writing of the History of Nigeria until the 1970s. Dike was a pioneer in the movement towards utilising oral traditions in a multi-disciplinary approach in African historiography . He is credited with "having played the leading role in creating a generation of African historians who could interpret their own history without being influenced by Eurocentric approaches." He has been called
400-400: The Nigerian government used a currency note changeover—delivering too few of the new notes into circulation—to attempt to force citizens to use a newly-created government-sponsored central bank digital currency . This led to extensive street protests. The history of the currency according to the government. The naira was introduced on 1 January 1973, replacing the Nigerian pound at
440-625: The "father of modern African historiography". Dike was born in Awka , eastern Nigeria . He attended Fourah Bay College , Sierra Leone and also Durham University for his BSc , the University of Aberdeen for his MA , and King's College London for his PhD . During the 1960s, as a member of the University of Ibadan's history department, he played a pioneering role in promoting African leadership of scholarly works published on Africa . As
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#1732791135468480-657: The 1970s. The Nigerian Civil War led some to question whether Nigeria was in fact a unified nation with a national history. At the same time, rival schools of history began to emerge. At Ahmadu Bello University in Zaria, Nigeria , the Islamic Legitimist school arose that rejected Western models in favour of the scholarly tradition of the Sokoto Caliphate and the Islamic world . From other parts of Africa,
520-469: The 50 kobo and ₦1 notes were replaced by coins in 1991. This was followed by ₦100 in 1999, ₦200 in 2000, ₦500 in 2001 and ₦1,000 on 12 October 2005. On 28 February 2007, new versions of the ₦5 to ₦50 banknotes were introduced. Originally the ₦10, ₦20 and ₦50 were to be polymer banknotes , but the ₦5, ₦10 and ₦50 were delayed to late 2009 and only the ₦20 was released in polymer. The notes are slightly smaller (130 × 72 mm) and redesigned from
560-424: The CBN increased key interest rate six times, rising from 6.25% to 12%. On 31 January 2012, the CBN decided to maintain the key interest rate at 12%, in order to reduce the impact of inflation due to a reduction in fuel subsidies. From 20 June 2016, the naira was allowed to float, after being pegged at ₦197 to US$ 1 for several months. Trade speculated the natural range of the naira would be between ₦280 and ₦350 to
600-574: The Central Bank of Nigeria (CBN) under President Muhammadu Buhari led administration expressed the decision to redesign the naira as a statutory responsibility and a way to curb the increased circulation of counterfeit notes in the country. The CBN Governor, Mr. Godwin Emefiele expressed that the approval for the redesign was granted by the president of the country in fighting corruption, terrorism, kidnapping and other unlawful practices. He said
640-404: The Central Bank of Nigeria was contemplating the introduction of new currency denominations of ₦5,000. The bank also made plans to convert ₦5, ₦10, ₦20 and ₦50 into coins which are all presently notes. The Central Bank of Nigeria announced that it would no longer issue banknotes on polymer citing higher costs and environmental issues. On 12 November 2014, the Central Bank of Nigeria issued
680-478: The Naira fell to a new record low of ₦853 to US$ 1. Between the 1st Feb 2024 and the 5th Feb 2024, the currency fell again, more than 50%, from NGN 898 to NGN 1,400, before drifting down to NGN 1,600 as of 30 July 2024 Nigerian central bank info as of 2022 is in this source: In 1973, coins were introduced in denominations of 1 ⁄ 2 , 1, 5, 10 and 25 kobo, with the 1 ⁄ 2 and 1 kobo in bronze and
720-556: The Niger Missions (1958). A biography entitled, Life and Thoughts of Professor Kenneth O. Dike , was authored by Professor Alexander Animalu . He and his wife, Ona, had five children. This biographical article about a Nigerian historian is a stub . You can help Misplaced Pages by expanding it . Nigerian currency The naira ( sign : ₦ ; code : NGN ; Yoruba : náírà , Hausa : نَيْرَ , romanized: naira , Igbo : naịra , Tyap : nera )
760-516: The bank would "only intervene in the market as may be required to achieve defined policy objectives". Coins and banknotes, and their security features, are described on the website of the Central Bank of Nigeria. Coins were to be issued in denominations of: - 1 kobo (₦0.01) - 2 kobo (₦0.02) - 5 kobo (₦0.05) - 10 kobo (₦0.10) - 20 kobo (₦0.20) - 50 Kobo (₦0.50) - 1 Naira (₦1) Due to inflation, Nigerian coins are all essentially worthless now. Banknotes were to be printed in denominations of: In 2022,
800-428: The country one out of the four Africa countries who print their currencies locally and not import from foreign countries. In November 2022, CBN, Nigeria's central bank, informed the citizens that the new notes will be issued from 15 December 2022 onward, and that old naira notes need to be returned to the banking system before 31 January 2023 when they will cease to be legal tender. The deadline to exchange banknotes
840-525: The dollar. In October 2021, the eNaira, the digital version of the state currency, was officially launched in Nigeria by President Muhammadu Buhari. The 2023 Nigerian currency crisis was precipitated in January 2023 by a shortage of naira cash amid an attempt by the Nigerian government to force citizens to use newly-designed notes, which the government said would help stem the tide of vote-buying in
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#1732791135468880-456: The domestic journals, including the Journal of the Historical Society of Nigeria , faltered and were only published rarely, if at all. Kenneth Dike Kenneth Onwuka Dike // (17 December 1917 – 26 October 1983 ) was a Nigerian educationist, historian and the first Nigerian Vice-Chancellor of the nation's premier college, the University of Ibadan . During
920-544: The front is the engraved portraits of Alhaji Aliyu Mai-Bornu and Dr. Clement Isong , both of which are former governors of the Central Bank of Nigeria. On the first prints of the ₦100 notes issued starting 1 December 1999, Zuma Rock was captioned as located in Federal Capital Territory , while actually it is situated in Niger State . Later prints removed the reference to FCT, ABUJA. In 2012
960-580: The head of the organizing committee of the First International Congress of Africanists in Ghana in 1963, he sought for a strengthened meticulous non-colonial focused African research, publication of research in various languages including indigenous and foreign, so as to introduce native speakers to history and for people to view African history through a common eye. He was the first director of International School Ibadan . In 1965 he
1000-437: The higher denominations in cupro-nickel. The 1 ⁄ 2 kobo coins were minted only that year. In 1991, smaller 1, 10 and 25 kobo coins were issued in copper-plated-steel, along with nickel-plated-steel 50 kobo and ₦1. On 28 February 2007, new coins were issued in denominations of 50 kobo, ₦1 and ₦2, with the ₦1 and ₦2 bimetallic. Some Nigerians expressed concerns over the usability of the ₦2 coin. The deadline for exchanging
1040-415: The higher naira denominations have been the denomination mostly used by the perpetrators of the acts which includes ₦200, ₦500 and ₦1,000 notes. President Muhammadu Buhari officially unveiled the new notes at the state house after 19 years since the naira was redesigned. The newly redesigned naira notes were planned to be printed by The Nigerian Security Printing and Minting Company Limited which will make
1080-442: The lead-up to the 2023 general elections . This led to extensive street protests throughout January and February 2023. The country's Supreme Court later invalidated the government's pronouncement that the previous notes had ceased to become legal tender. 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,
1120-557: The naira attained a landmark when it featured the signature of Priscilla Ekwere Eleje , the new Director of Currency operations of the Central Bank of Nigeria and the first woman to hold the post. and now in Nigeria we have two #200 notes,two #500 notes and two #1000 notes The naira was scheduled for redenomination in August 2008, although this was cancelled by then-President Umaru Musa Yar'Adua , with 100 old naira to become 1 new naira. The Nigerian Central Bank stated that it would make
1160-426: The naira fully convertible against foreign currencies by 2009. Currently, the amount of foreign currency is regulated through weekly auctions, while the Central Bank sets the exchange rate. The naira appreciated against the dollar through 2007 due to high oil revenues. Also, the then-Bank Governor, Professor Chukwuma Soludo noted the weekly central bank auctions of foreign currency will gradually be phased out, and that
1200-443: The naira was introduced, it had an official exchange rate of US$ 1.52 for ₦1, though a currency black market existed in which the naira traded at a discount relative to the official exchange rate. The official exchange rate set by the Central Bank of Nigeria: naira to U.S. dollar is approximately ₦767.54 per 1 US dollar. This rate is almost two times different from the illegal black market exchange rate. The Black-Market exchange rate of
1240-474: The old currency was set at 31 May 2007. The central bank stated that the 1 ⁄ 2 to 25 kobo coins were withdrawn from circulation with effect from 28 February 2007. On 1 January 1973, the Central Bank of Nigeria introduced notes for 50 kobo, ₦1, ₦5, ₦10 and ₦20: in April 1984, the colors of all naira banknotes were changed in an attempt to control money laundering . In 1991, ₦50 notes were issued, while
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1280-473: The preceding issues. In mid-2009 when Sanusi Lamido Sanusi took over as CBN Governor, The Central Bank of Nigeria changed the ₦5, ₦10 and ₦50 to polymer notes. On the ₦1,000 notes, there is a subtle shiny strip running down the back of the note to prevent counterfeiting. The strip is a shimmery gold color showing ₦1,000 and has a triangular shape in the middle of the front of the note which changes its color from green to blue when tilted. The main feature on
1320-592: The quality of the methodology and scholarship of the Ibadan scholars was never questioned. Conversely, the African scholars of the Ibadan School saw the American and British universities as bastions of imperialism . As a result, nationalists shunned the western based Journal of African History in favour of the domestic Journal of the Historical Society of Nigeria . The Ibadan School began to decline in importance in
1360-650: The school took a strongly interdisciplinary approach to gathering information. This was especially true after the founding of the Institute for African Studies that brought together experts from many disciplines. There was some friction between the Ibadan School and the Africanists in Britain and the US. The Africanists felt that the Nigerian scholars should be more objective and less involved in current politics. However,
1400-514: The use of oral evidence by African historians. Other leading scholars of the Ibadan School include Saburi Biobaku , Jacob Ade Ajayi , J. A. Atanda , J. C. Anene , Adiele Afigbo , E. A. Ayandele , Obaro Ikime and Tekena Tamuno . A number of foreign scholars, many of whom came to teach in Nigeria, are also often associated with the school, including Eveline C. Martin, Michael Crowder , Abdullahi Smith , A.F.C. Ryder, J. B. Webster, R. J. Gavin, Robert Smith , and John D. Omer-Cooper. The school
1440-484: The use of oral evidence by African historians. Dike was also the first president of ASUTECH (Anambra State University of Technology, now Nnamdi Azikiwe University ). His publications include the following: Report on the Preservation and Administration of Historical Records in Nigeria (1953), Trade and Politics in the Niger Delta 1830-1885 (1956), A Hundred Years of British Rule in Nigeria (1957), The Origins of
1480-444: Was a government plan to redenominate the naira at 100:1 in 2008, but the plan was suspended. The currency sign is U+20A6 ₦ NAIRA SIGN . 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. The Central Bank of Nigeria claimed that they attempted to control the annual inflation rate below 10%. In 2011,
1520-490: Was characterized by its overt Nigerian nationalism and it was geared towards forging a Nigerian identity through publicizing the glories of pre-colonial history. The school was quite traditional in its subject matter, being largely confined to the political history that colleagues in Europe and North America were then rejecting. It was very modern, however, in the sources used. Much use was made of oral history and throughout
1560-558: Was elected chairman of the Association of Commonwealth Universities . Ebere Nwaubani argues that Dike was the first modern scholarly proponent of Africanist history. His publications were a watershed in African historiography. Dike has been described as first African to get a PhD in history. At the University College of Ibadan, he became the first African professor of history and head of a history department. He founded
1600-422: Was extended to February 2023. The redesign is controversial. There have been shortages of the new bank notes at ATMs, necessitating some Nigerians to wait in long lines or sleep on the sidewalk waiting for ATMs to be reloaded. In 2022, Nigeria's central bank expressed the scarcity of the currency due to high volume of the naira kept outside the banking system and attributed to be hoarded by politicians. When
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