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98-585: A national identity card system was initially conceived in 1977 but the project did not see the light of the day. In 2003, a new scheme managed by the Directorate of National Civic Registration (DNCR) was initiated and about 54 million Nigerians were registered, however, the scheme failed to meet official expectations and was also hampered by allegations of corruption and embezzlement of funds. The National Identity Management Commission came into effect in 2010 and an initial budget of about 30 billion naira

196-795: A permanent secretary , who is a senior civil servant. The ministries are responsible for various parastatals (government-owned corporations), such as universities , the National Broadcasting Commission, and the Nigerian National Petroleum Corporation . However, some parastatals are the responsibility of the Office of the Presidency, such as the Independent National Electoral Commission ,

294-567: A consequence of this, there has been a great deal of corruption in Nigerian politics and general life. A good sign of democracy in Nigeria is the fact that elections are becoming less fraudulent and there is more party competition. Another indicator of a strong democracy is the presence of a civil society in which citizens have the right to act and speak freely in concert with a strong use of media for everyday life. Furthermore, Nigeria has seen

392-495: A democratic state. Nigeria is hoping to gain a permanent seat on the UN Security Council in the near future. Despite these achievements, Nigeria continues to face challenges in its foreign relations, such as the fight against terrorism and insurgency in the region, the challenge of migration and human trafficking, and the need to increase economic cooperation and integration with its neighbors. Nigeria's media scene

490-420: A great number of citizens who have lost their jobs and source of income. In response to this, the federal government passed economic stimulus packages to promote important production sectors such as agriculture and oil. The government also passed food assistance measures and cash transfers to aid those in poverty who are going hungry. They also pushed for fundraising efforts to secure funds from donors to support

588-698: A great number of parties as a direct result of corruption and chaos that has ensued in Nigeria surrounding the federal government and elections for years. The vast number of parties has proved to be difficult to monitor. The two major parties are the Peoples Democratic Party and the All Progressives Congress , both of which have held the presidency and seats in the National Assembly for extended periods of time. As opposed to parties in other nations that represent

686-467: A heightened use of media within the realm of political issues, particularly with the recent [Special Anti-Robbery Squad] SARS protest, indicating a sense of freedom for the public to voice their opinions to the government and the world. According to the 2020 World Press Freedom Index , Nigeria is the 115th most free nation in the world. It has been noted as a nation with perpetuating violence against freedom of speech and press. Nigeria has been found to be

784-570: A minister in the Federal Cabinet . Nigeria has 24 Federal Ministries. The president must include at least one member from each of the 36 states in his cabinet. The president's appointments are confirmed by the Senate of Nigeria . In some cases, a federal minister is responsible for more than one ministry (for example, Environment and Housing may be combined), or a minister may be assisted by one or more ministers of state. Each ministry also has

882-485: 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

980-486: A recent rise in citizen-created, and in particular youth-led groups that are taking action against Boko Haram to protect themselves and their communities. Both the actions of Boko Haram and the government's efforts to combat terrorism have led to a growing refugee crisis in Nigeria. Nigeria's membership in the British Commonwealth began in 1960 and was suspended from 1995 to 1999 when the country became

1078-531: A salary equivalent to over $ 2,200 USD a month, supplemented by expenses of $ 37,500 USD a month (2018 figures). The judicial branch is made up of the Supreme Court of Nigeria , the Court of Appeals , the high courts , and other trial courts such as the magistrates ', customary , Sharia and other specialized courts. The National Judicial Council serves as an independent executive body, insulating

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1176-544: A secure and user-friendly process, requiring specific documents for each type of modification. In July 2024, the offices of MTN , Glo and others were stormed nationwide by subscribers after the telecoms deactivated lines not linked with a NIN. One month later, the NCC announced a new September 14, 2024 deadline for individual linking of NINs to SIM cards. The organization began enrollment exercise in September 2010 and started

1274-409: A slew of political opinions that the public can align themselves with, parties in Nigeria act more so as a means through which prominent figures can gain power and influence, and there are so many because they often switch parties to find the one to give them the best chance of achieving authority. Political parties have been an important aspect of Nigerian government both before and after independence

1372-577: A state under military rule. It was reinstated in 1999 when democracy was established with the Presidential Constitution and Fourth Republic of Nigeria, and it remains a part of the Commonwealth to this day. The Commonwealth Secretariat aims to help Nigeria detect and deter corruption within its federal government. In 2018, they taught numerous government officials and financial officers how to combat and condemn corruption within

1470-694: A tendency for people in Nigeria to support parties based on ethnic of religious divisions, particularly along the Muslim-Christian line of division. The 18 political parties are: Accord, Action Alliance, Action Democratic Party, Action Peoples Party, African Action Congress, African Democratic Congress, All Progressives Congress, All Progressives Grand Alliance, Allied Peoples Movement, Boot Party, Labour Party, National Rescue Movement, New Nigeria Peoples Party, Peoples Democratic Party, Peoples Redemption Party, Social Democratic Party, Young Progressive Party, Zenith Labour Party. The president and members of

1568-407: A vulnerable nation, both at risk of modern slavery and corruption. The nation is vulnerable due to the effects of inner conflict and governance issues. Freedom House has rated Nigeria as a "partly free" nation. In the last presidential election, the process was tainted by violence, intimidation and vote buying, which have been prevalent in many of the recent elections within Nigeria. Similarly, in

1666-445: 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,

1764-413: Is Bola Tinubu, who was elected in 2023, and the current vice president is Kashim Shettima. The executive branch is divided into Federal Ministries , each headed by a minister appointed by the president , Federal Ministries are those civil service departments which were made responsible for delivering various types of government service and each ministry is headed by a permanent secretary who reports to

1862-412: Is a lack of women elected into the government, and same-sex relationships were criminalized in 2014. The Nigerian federal government's officials like the president and legislators are elected to enact policy and laws, and are usually allowed to do so without interruption, but in recent years, their ability to legislate has been marred by corruption and instability. Corruption has been a major problem for

1960-574: Is a member of the African Union and sits on that organization's Peace and Security Council . The current minister of foreign affairs of Nigeria is Yusuf Tuggar . Much of Nigeria's foreign affairs , both during the colonial era and post-independence has relied on oil-production. Nigeria's relationships with both its continental neighbors in Africa and throughout the world have improved a great deal since it has transitioned from military rule to

2058-422: Is allowed in Nigeria, however, the government and even non-governmental organizations have been known to violently respond to groups that openly dissent to the federal government. Religion is a contentious topic in Nigeria because of heated, ongoing conflicts between Christians and Muslims within the state. Freedom House rated the Nigerian federal government well in the category of allowing academic freedom, and

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2156-718: Is based on the rule of law , the independence of the judiciary , and British common law (due to the long history of British colonial influence ). The common law in the legal system is similar to common-law systems used in England and Wales and other Commonwealth countries . The constitutional framework for the legal system is provided by the Constitution of Nigeria . The major influences on Nigeria's legal system are: The two fundamental sources of Nigerian law through legislation are: (1) Acts of British parliament, popularly referred to as statutes of general application during

2254-618: Is characterized by state and private broadcasters, popular international brands like the BBC and CC and more than a 100 national and local print titles state and private broadcasters. Radio and televised media in Nigeria is mostly state-owned by the National Broadcasting Commission . This is often used as a tactic of the government to assert control over and sway public opinion in favor of the incumbent party and his policies. However, most newspaper are privately owned and

2352-493: Is composed of three distinct branches: the executive , the legislative , and the judicial , whose powers are vested and bestowed upon by the Constitution of the Federal Republic of Nigeria . One of the primary functions of the constitution is that it provides for separation and balance of powers among the three branches and aims to prevent the repetition of past mistakes made by the government . Other functions of

2450-405: Is elected through universal suffrage which is regarded as more than a privilege extended by the state to its citizenry, and it is rather thought of as an inalienable right that inheres to every adult citizen by virtue of citizenship. In democracies it is the primary means of ensuring that governments are responsible to the governed. The president is head of both the state and government, and heads

2548-509: Is exemplified by the vast number of legitimate parties seen in elections. Similarly, Nigerian opposition parties have a legitimate chance to participate in politics and win official positions. In regards to freedom of political expression, Freedom House indicates that opinions and institutions are often heavily influenced by non-governmental, external entities or individuals. In Nigeria, all ethnic groups and religious backgrounds have an equal opportunity to participate in politics, however, there

2646-484: Is further divided into local government areas (LGAs). These states and their local governments are essential to the function of a federal government because they have a pulse on the local population and can therefore assess the needs of constituents and enact policy or infrastructure that is helpful. They are also important because the federal government has the time and resources to take on national projects and international affairs while local governments can take care of

2744-749: 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

2842-528: Is the general election that took place in 2007. This election was reportedly marred by ballot-rigging, underage voting, violence, intimidation, and an overall absence of clarity and accuracy from the National Electoral Commission. Islamic law has found its way into the heart of many Nigerian state governments, particularly in the northern sect of the country. There is a deep rift between Christians and Muslim in Nigeria, and therefore

2940-781: Is the largest of the services, has about 60,000 personnel, deployed between two mechanized infantry divisions, one composite division (airborne and amphibious), the Lagos Garrison Command (a division-size unit), and the Abuja-based Brigade of Guards. The Nigerian Navy (7,000) is equipped with frigates , fast attack craft, corvettes, and coastal patrol boats. The Nigerian Air Force (9,000) flies transports, trainers, helicopters, and fighter aircraft; however, most of their vehicles are currently not operational. Nigeria currently has better foreign relations with its neighbors, due to its current state of democracy. It

3038-434: Is threatening the stability of Nigeria's democracy, internal structure, and civil society, and many political scientists and Nigerian leaders hope the two religions can engage in a peaceful dialogue that hopefully pacifies both sides. The greatest terrorist threat in Nigeria is from the organization Boko Haram , and became a prevalent issue in the summer of 2009. Boko Haram is a radical jihadist Islamist terrorist group from

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3136-528: Is typically exercised through bills passed by the NASS which are assented to by the president. Bills generally come in two forms – either a private bill which affects private citizens, corporate entities and/or a particular class of people or public bills which affect the general public. A bill can be introduced into either chamber of the NASS by members of the respective chambers or the executive arm of government. The National Assembly of Nigeria has two chambers :

3234-575: Is vested with the powers to make laws for the peace, order and good governance of the Federation. “It is also vested with investigatory powers, financial powers, confirmation and impeachment powers. It would not be out of place for me to use this occasion to remind us that the Legislature is the symbol of democracy all over the world. Under Section 4 (1) of the 1999 Constitution of the Federal Republic of Nigeria (as amended) (the "Constitution"),

3332-655: The Economic and Financial Crimes Commission and the Federal Civil Service Commission . The legislature is said to be the first among the three arms of government – the legislature, executive, and the judiciary. These arms are characterized by the principle of separation of power as each is supposed to be independent of the other. The legislature derives its powers from the 1999 Constitution (as amended) in Sections 4(1) and 4(2). The legislature

3430-455: 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

3528-518: The president of the Senate . A total of 108 members are elected for four-year terms in 36 three-seat constituencies , which correspond to the country's 36 states . One member is selected in the single-seat constituency of the federal capital . The legislators are elected to either the House of Representatives or the Senate to be representatives of their constituencies and to pass legislation to benefit

3626-469: 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

3724-424: 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

3822-574: 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

3920-404: 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

4018-725: The Christian–Muslim divide. The northern section of the country is largely Islamic, with 12 states that live under Sharia law , while the southern area is mostly Christian. There have been multiple attempts by Nigerian Muslims to add Sharia concepts to the Constitution which has alarmed the Christian population within the nation. Many Christians have deemed the rise in Islam in Nigeria to be dangerous and that it could possibly lead to increased terrorism and instability. This conflict

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4116-406: The House of Representatives and the Senate. The House of Representatives is the lower chamber of Nigeria's bicameral National Assembly and is presided over by the speaker of the House of Representatives . It has 360 members each of the federal constituencies of the country, who are elected for four-year terms in single-seat constituencies . The Senate , which has 109 members, is presided over by

4214-452: The House of Representatives since 2019. Each member of the National Assembly of Nigeria can be elected to more than two four-year terms. Recently, the legislative branch has been misusing its position as a check on the power of the president and his cabinet. Legislators have been known to utilize their power for not only law-making, but as a means of political intimidation and a tool to promote individual monetary success. Senators are paid

4312-478: 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

4410-501: The National Assembly of Nigeria are elected by members of the population who are at least 18 years old. The National Electoral Commission is responsible for monitoring elections and ensuring that the results are correct and not fraudulent. The winner of a position is elected through the first-past-the-post system that is used in Great Britain . Nigeria has faced numerous bouts with fraudulent elections, particularly noteworthy

4508-562: The National Assembly of Nigeria often called NASS is vested with the legislative powers of the Federal Republic of Nigeria. That is the power to make laws for the peace, order, and good government of the Federation with respect to any matter included in the Exclusive Legislative List and the Concurrent List – a list of 12 items that both NASS and states' house of assembly can legislate on. This legislative power

4606-556: The Nigerian government is the only one of the three branches of government in which its members are not elected but are appointed. The judiciary, and the Supreme Court in particular, are intended to uphold the principles and laws of the nation's constitution that was written in 1999. Its goal is to protect the basic rights of the citizens. The current chief justice of the Supreme Court is Olukayode Ariwoola . After achieving its independence and republican status in 1960 (becoming

4704-413: The Nigerian government since its independence from colonial rule. In particular, the oil sector has allowed a great deal of corruption to take place. The government has tried to enact measures to combat corruption that infringes upon the functioning of the state, but have only been quasi-successful. The government has also been rated as lacking in transparency, often not allowing records to be available to

4802-492: The Nigerians native to their respective states. The devolution of power between the states and the federal government helps the functionality of Nigeria. 774 local governments oversee the collection of local taxes, education, health care, roads, waste, and planning. The local government look after the affairs of the common men and women in the Nigeria society. The creation of local government reform started in 1968, 1970 during

4900-516: 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,

4998-762: The biometric information of the holder. The commission also collaborated with MasterCard to add a prepaid element to the card and can be used as an ATM card in MasterCard certified ATMs. The new General Multipurpose Card (GMPC) introduced by Nigeria's National Identity Management Commission (NIMC) integrates several functions into one platform, including payment and government services. It streamlines identity verification, replacing multiple forms of ID, and can be applied for online, at NIMC offices, or through banks. Naira The naira ( sign : ₦ ; code : NGN ; Yoruba : náírà , Hausa : نَيْرَ , romanized:  naira , Igbo : naịra , Tyap : nera )

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5096-551: The cabinet of Nigeria, the Federal Executive Council. The constitution also sanctions the president's status as commander-in-chief of the armed forces in Section 130. The constitution of 1999 vests all the executive powers of the federation in the person of the president which can be exercised directly by him or his vice president or members of his cabinet. Section 5(1)(b) provides that the executive powers of

5194-504: The commission denied circulating reports of a data breach by a shadowy entity, XpressVerify. The commission oversees the registration and distribution of the National Identification Number (NIN), issues National e-ID card s, conducts identity verification, and ensures the harmonization and authentication of user data. The national identification number is a part of Nigeria's National Identity Management System,

5292-404: The constitution include a division of power between the federal government and the states, and protection of various individual liberties of the nation's citizens . Nigerian politics takes place within a framework of a federal and presidential republic and a representative democracy , in which the president holds executive power. Legislative power is held by the federal government and

5390-619: The constitution remained the subsequent administrations (military or otherwise). The Armed Forces of Nigeria assumed the rulership of Nigeria in 1966–1979 and 1983–1999, except in August – September 1992. The breakdown of law and order which occurred in the period under review would not be attributed to any defect in the Nigerian legal system. Corrupt practices both in the body politics and all aspects of Nigerian life eroded efficiency and progress. There were eight coups generally; five were successful and three were unsuccessful. The president

5488-428: 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

5586-445: The country to democracy. Nevertheless, only General Abdulsalami Abubakar took the control of the nation after the death of Sani Abacha and stuck to his word. The country's modern Constitution became official in 1999. The elections in the year 1999 were more successful compared to that of the previous military ruler. The newly emerged President of Nigeria Olusegun Obasanjo put a stop to the military regimes that kept switching one after

5684-485: The court are binding and absolute on all courts in Nigeria except the Supreme Court itself. The Supreme Court is composed of the chief justice of Nigeria and other justices not more than 21 including the chief justice, appointed by the president of Nigeria on the recommendation of the National Judicial Council. These justices are subject to confirmation by the Senate . The judicial branch of

5782-818: The creation of fair bargains. The Commonwealth Secretariat has also provided Nigeria with access to their Connectivity Agenda, which allows nations under the Commonwealth to communicate and exchange ideas and policies to help each other with economic and domestic productivity. Nigeria is made up of 36 states and 1 capital territory: the Federal Capital Territory , Abia , Adamawa , Akwa Ibom , Anambra , Bauchi , Bayelsa , Benue , Borno , Cross River , Delta , Ebonyi , Edo , Ekiti , Enugu , Gombe , Imo , Jigawa , Kaduna , Kano , Katsina , Kebbi , Kogi , Kwara , Lagos , Nasarawa , Niger , Ogun , Ondo , Osun , Oyo , Plateau , Rivers , Sokoto , Taraba , Yobe , and Zamfara state. Each state

5880-470: 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

5978-438: The federal budget and economic sector. The military of Nigeria has played a major role in the country's history, often seizing control of the country and ruling it for long periods of time. Its last period of rule ended in 1999, following the death of the leader of the previous military junta Sani Abacha in 1998. Active duty personnel in the three Nigerian armed services totals approximately 76,000. The Nigerian Army, which

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6076-454: The federal government in areas that are at a risk of violence or instability. There is a lack of protection for women in regards to rights to abortion, rape, and domestic abuse under the Nigerian federal government. Lastly, there is a pervasive human-trafficking problem in Nigeria and frequent exploitation of citizens that the federal government has done a poor job to prevent. There are 18 recognized political parties in Nigeria. There are

6174-451: The federation which shall consist of two chambers: the Senate and the House of Representatives." The Economist Intelligence Unit rated Nigeria a " hybrid regime " in 2019. The federal government, state, and local governments of Nigeria aim to work cooperatively to govern the nation and its people. Nigeria became a member of the British Commonwealth upon its independence from British colonial rule on 1 October 1960. The law of Nigeria

6272-457: The fourth largest democratic country in the world) and 1963 respectively, Nigeria experienced its first military coup in 1966 followed by a civil war which lasted until 1970. It was made possible to bring back the democratic ideal for a few of years in the year 1978. Though this certain period of democratic ideal did not last very long and was soon over in 1983 as a result of some military rulers who came into power via coup d'état promised to return

6370-466: 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

6468-518: The globe. The terrorist organization became a part of ISIS in 2015, drawing concerns to the safety and stability of Nigeria. Many world powers including the United States have contributed military resources to help fight against Boko Haram because Nigeria's oil industry is crucial to the international economy. The Nigerian federal government has launched programs and tactics to combat Boko Horam because of their prevalence. There has also been

6566-751: The government has taken on a hybrid of English common law and Islamic law when dealing with legal issues to appease the diverse national population. Nigeria has the largest population of Christians and Muslims cohabitating in the world. These two religions were introduced in Nigeria largely during the colonial period, and since then, many Africans have merged their own traditional religions with these two institutionalized ones. Religious tensions between Christians and Muslims in Nigeria has often been used by politicians and other powerful people to incite violence and create fear and chaos among Nigerians. This has led to many citizens questioning why Nigeria remains one federal state, and that it should possibly split along

6664-437: 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

6762-415: 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

6860-483: The interests of the Federal Republic of Nigeria and its people, makes laws for Nigeria, and holds the Government of Nigeria to account. The National Assembly (NASS) is the nation's highest legislature, whose power to make laws is summarized in chapter one, section four of the 1999 Nigerian Constitution. Sections 47–49 of the 1999 Constitution state, among other things, that "There shall be a National Assembly (NASS) for

6958-412: The issuance of a multipurpose card in 2013. The identity card issued in 2013 can be obtained by Nigerians aged sixteen or have lived in the country for two or more years at point of enrollment providing an identification document with a photograph such as a driver's license or an international passport. The ID card contains a National Identity Number, two photographs of the card holder, and a chip containing

7056-525: The judiciary from the executive arm of government . According to the 1999 constitution, the Supreme Court has both original and appellate jurisdictions (the power to reverse, modify and change a decision or ruling made by a lower court). Appellate jurisdiction exists for both the civil law and criminal law, the supreme court has the sole authority and jurisdiction to entertain appeals from Court of Appeal, having appellate jurisdiction over all lower federal courts and highest state courts. Decisions and rulings by

7154-442: 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,

7252-433: The military era 1966–1999 . The grant of independence to Nigeria was a milestone in the political history of the country. This period witnessed the consolidation of political gains made during the colonial era. Politicians genuinely focused their lapses on the polity. It achieved for herself a republican status by shaking off the last vestiges of colonial authority. However, despite the violent violation of its provisions,

7350-471: The military government but was fully 1976. As Africa's most populated nation, the coronavirus pandemic ravaged across Nigeria. Nigeria proved that it could detect, respond to, and prevent the COVID-19 outbreak in a very restricted, poor fashion. Nigeria lacks the resources to conduct the widespread testing the nation needs to keep up with the number of cases surging across the state. Nigeria also lacks

7448-461: The most recent legislative elections, citizens claimed the process was also characterized by intimidation and other inconsistencies. The electoral process and related laws are thought to be enacted in a mostly fair fashion, but there have been instances of intentionally complicating voting and effecting turnout. The people of Nigeria feel as though there is more freedom in their right to have different political parties to represent their opinions. This

7546-504: 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

7644-426: 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

7742-608: The naira to the U.S. dollar is approximately ₦752.50 per 1 US dollar. According to a recent report by Naija News , the parallel market exchange rate of the naira to the U.S. dollar is around ₦1483 per 1 USD, significantly higher than the official Central Bank of Nigeria rate. This disparity highlights underlying economic challenges and market pressures. This table shows the historical value of one U.S. dollar in Nigerian naira. PM = parallel market. [REDACTED] Media related to Money of Nigeria at Wikimedia Commons Government of Nigeria The federal government of Nigeria

7840-443: 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

7938-599: The nation. The Secretariat's involvement both in governmental and financial affairs created a better system for the transaction of goods and services in Nigeria with less risk of corruption. As of 2017, the Commonwealth has provided Nigeria with policies and resources for Great Britain's exit from the European Union and outlined the possible effects on Commonwealth nations and trade. The Commonwealth Secretariat has helped Nigeria in its natural resource fields such as oil and mining. They have helped with negotiations and

8036-432: The necessary number of other resources for fighting the virus such as hospital workers, rooms, and ventilators. The federal government's response to the virus has been fairly weak and ineffective. Former President Buhari passed numerous lockdowns, mask mandates, and travel bans to decrease the number of cases in the country. However, the lockdowns, mandates, and travel restrictions have led to negative economic effects for

8134-411: The northern sect of Nigeria. This organization has launched terror attacks that have largely targeted the Nigerian federal government, non-Muslim religious organizations, and average citizens. The rise and growing effects of Boko Haram have been attributed to the instability and fragility of the Nigerian state. They are upset by the government corruption and policy failures of Nigeria, and in particular,

8232-474: 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

8330-562: The other for almost 30 years. The end of the military rule culminated in a new era of regular elections as well as the return of civil liberties, a free press, and an end to arbitrary arrests and maltreatment, although human rights violations still occur regularly. Nigeria democratized in 1999 with the start of the Fourth Republic, but has suffered some setbacks to becoming fully democratic. Elites in Nigeria have been found to have more power and influence than average citizens, and as

8428-530: The other part is the General Multi-Purpose Card. The number stores an individual's unique data into the database. It is part of a measure to create a national identity database and to prevent both double identity and identity fraud . The NIMC self-service portal allows users to modify their National Identification Number ( NIN ) details online. This includes changes to date of birth, name, address, email, and phone number. The portal provides

8526-455: The period before independence. (2) Local legislation (comprising enactments of the Nigerian legislatures from colonial period to date). There were other sources which, though subsumed in Nigerian legislations, were distinctly imported into the Nigerian legal systems. They are called the criminal and penal codes of Nigeria. Nigerian legislation may be classified as follows: The colonial era until 1960, post-independence legislation 1960–1966,

8624-410: The poverty and lack of development of the north of Nigeria which is predominantly Muslim. The impact of Boko Haram on Nigeria has been devastating, over 37,000 individuals have died due to their terrorist attacks since 2011, and over 200,000 Nigerians have been displaced. Boko Haram was responsible for the kidnapping of hundreds of school girls in 2014, triggering the #BringBackOurGirls movement across

8722-473: 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

8820-556: The president extends to the maintenance of the provisions of the constitution, acts of the national assembly and on items on which the national assembly has power for the time being to make law. The president is elected to see that the Nigerian Constitution is enacted and that the legislation is applied to the people. The elected president is also in charge of the nation's armed forces and can serve no more than two four-year elected terms. The current president of Nigeria

8918-408: The public that should be readily available. Journalism and the media in Nigeria are somewhat free, they are allowed to function independently from the government, but oftentimes those who criticize public figures or offices are arrested or censored. A mafia-like organisation, Black Axe, is involved in international corruption using especially on-line fraud, as reported in BBC article. Religious freedom

9016-537: The public's ability to express their views even if they disagree without the government without fearing a negative reaction from the government. The Nigerian government was rated moderately on people's ability to assemble, ability to work with human rights, and the existence of unions. The judiciary was rated as moderately free from the government, and lacking in due process in trials and equal treatment of all members of society. People in Nigeria do not have great freedom of movement, and are often subjected to curfews set by

9114-423: The public. The legislative process consists of bills being drafted and presented in either of the two chambers. These bills can only become national law once they are approved by the president of Nigeria who can veto bills. The president of the Senate is currently Ahmed Ibrahim Lawan , who was elected to the senate in 2007, and the speaker of the House is Femi Gbajabiamila , who has been Nigeria's 9th speaker of

9212-477: The two chambers of the legislature: the House of Representatives and the Senate . The legislative branch of Nigeria is responsible for and possesses powers to legislate laws. Together, the two chambers form the law-making body in Nigeria, called the National Assembly, which serves as a check on the executive arm of government. The National Assembly of Nigeria (NASS) is the democratically elected body that represents

9310-444: 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,

9408-593: Was achieved from the British in 1960. Parties allow for political competition to take place, for the citizenry to find people who represent their ideas and interests in government, and for the introduction of new leaders and perspectives into Nigerian life. Many Nigerians do not understand the political party system because there are so many options and their platforms are unclear to the public. This remains an issue in Nigeria because it marginalizes those who are uneducated or uninvolved in government. Also, there seems to be

9506-530: Was appropriated in the 2011 federal budget. The commission subsequently entered into an agreement with the National Database & Registration Authority of Pakistan to develop computerized national identity cards for Nigerians. The commission also partnered with two consortiums, the first led by Chams Nigeria and the second, OneSecureCard consortium composed of Interswitch , SecureID, and Iris Technologies to provide data capture services. In March 2024,

9604-422: 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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