Crossword Genius

Wealthy individual with no Scottish coin? (5)

Ross

I believe the answer is:

nabob

I'm a little stuck... Click here to teach me more about this clue!

'scottish coin?' is the definition.
Although both the answer and definition are singular nouns, I don't understand how one could define the other.

'wealthy individual with no' is the wordplay.
I cannot quite see how this works, but
'individual' could be 'abo' (Abo is an example) and 'abo' is located in the answer.
'no' could be 'n' (common abbreviation) and 'n' is located in the answer.
A single letter 'b' remains which might be clued in a way I don't understand.
This may be the basis of the clue (or it may be nonsense).

Can you help me to learn more?

(Other definitions for nabob that I've seen before include "Person of conspicuous wealth or high status" , "Nawab" , "Mogul governor; very rich or important person" , "VIP" , "Devotional painting" .)

I've seen this clue in The Independent.
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