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Crises and Adaptation

Abstract This article examines the transition from precolonial to colonial currencies, and responses by the government, commercial banks, expatriate and indigenous traders, and the indigenous population in Nigeria between 1900 and 1930. It considers the subject in the contexts of trade and imperialism, global warfare, commercial cycles (boom and bust), debates about the suitability of various metals (aluminum, copper, nickel, and silver), the politics of seigniorage between the imperial and colonial governments, occasional currency scarcities, counterfeiting and infiltration of French coins, a…

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