This coin is a continuation of the series of British West Africa one penny coins. It was only issued in 1959 and was demonetised in 1973 with the introduction of Nigeria's decimal currency, the Naira.
Around circular central hole, Solomon's seal (six-pointed "Star of David"), consisting of two equilateral triangles interlaced; around above, FEDERATION OF NIGERIA; below, the date 1959.
||FEDERATION OF NIGERIA 1959
An imperial crown above a central circular hole with a scroll ornament to right and left; below crown and around the hole, the denomination ONE PENNY; around, outside the scroll ornaments, the monarch's legend QUEEN ELIZABETH THE SECOND; below the hole, the denomination in Arabic: وَاحِد پَنّي
||QUEEN ELIZABETH THE SECOND ONE PENNY وَاحِد پَنّي
References to additional information:
[Book] Remick, Jerome. 1971. The Guide Book and Catalogue of British Commonwealth Coins, pp 469-470.