Gun lobbyists accept first rate funds in Nigeria (5)
I believe the answer is:
naira
'funds in nigeria' is the definition.
Although both the answer and definition are singular nouns, I cannot understand how one could define the other.
'gun lobbyists accept first rate' is the wordplay.
'gun lobbyists' becomes 'nra' (I am not sure about this - if you are sure you should believe this answer much more).
'accept' indicates putting letters inside.
'first rate' becomes 'AI' (resembles An, old-fashioned slang for very good).
'nra' enclosing 'ai' is 'NAIRA'.
Can you help me to learn more?
(Other definitions for naira that I've seen before include "African rhino" , "Nigerian capital" , "African settler" , "Nigerian currency unit" , "Foreign bread" .)