The problem of colonialism continues to emerge in all aspect of the lives of the colonized and even appear in a new form following the trajectory of structured system by the colonial agents. Among the African nations colonized, their economy, political system and the host of other activities are still in the trajectory of the colonially structured concepts and precepts. In Nigeria in particular, almost every facet of Nigerian life as a nation still suffer the injuries of colonialism. Though the problem of colonialism and the impacts are many in different aspects of the Nigerian national life, this study was focused on the undermining of the African traditional exchange system in what later became Nigeria and how such manipulation offset the present currency abuse among Nigerians and the problem of underdevelopment. The study utilized the available Historical, Anthropological and Archaeological evidences to explain the present economic and general system disorder in Nigeria.

Keywords: Coin currency, Colonialism, African Indigenous currency, Traditional exchange system, Nigeria.