Nigerian Naira


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Nigerian Naira

The currency of Nigeria. It was introduced in 1973, replacing the Nigerian pound. It has been marked by relatively high (though not excessive) inflation. The Central Bank of Nigeria restricts the convertibility of the naira.
References in periodicals archive ?
The fall in crude oil also reduces its foreign exchange reserves, despite a 20 per cent depreciation of the Nigerian Naira.
The Johannesburg Stock Exchange (JSE) has launched the first currency futures which track the exchange rate between the Rand and select African currencies, listing three new currency futures contracts which track the exchange rate between the Rand (ZAR and the Zambian Kwacha (ZMK), Kenyan Shilling (KES) and Nigerian Naira (NGN).
The Nigerian naira remains overvalued despite its 7% devaluation in mid-January, and a fall to N90-95:$1 in the absence of the Central Bank's intervention, may be expected.
IFC, a member of the World Bank Group, today announced a loan facility of 400 million Nigerian naira, approximately $2.
THE free market value of the Nigerian Naira, which some economists say is a barometer of the ailing economy, had plummeted to a record low by the beginning of November.
Three new currency futures contracts have been listed by the JSE, which track the exchange rate between the Rand and the Zambian Kwacha, Kenyan Shilling and Nigerian Naira.
The bonds would be priced in the likes of South Africa rand, Botswana pula, Nigerian naira, Ugandan shilling or Zambian kwacha rather than the U.
The Board of Governors of the African Development Bank Group (AfDB) through its private sector window approved on Wednesday, October 1 a USD 12 million line of credit (LOC) equivalent in Nigerian Naira (NGN) to LAPO Microfinance Bank (LAPO MfB) in Nigeria.
The Nigerian Naira issuance confirms the AfDB s commitment to launch more local currency bonds across the continent, with proceeds used to provide local currency loans to the Bank s clients.
According to the AfDB, the funds will be drawn in multiple African currencies that include the Ghanaian Cedi, Nigerian Naira, the Kenyan Shilling, the Zambian Kwacha, the Mozambican Metical and the Tanzanian Shilling.
In a press statement released on December 12, 2012, AfDB said the line of credit will be drawn in multiple African currencies including the Ghanaian Cedi, Nigerian Naira, the Kenyan Shilling, the Zambian Kwacha, the Mozambican Metical and the Tanzanian Shilling.
The line of credit will be drawn in multiple African currencies including the Nigerian Naira, the Kenyan Shilling, the Zambian Kwacha, the Ghanaian Cedi, the Mozambique Metical and the Tanzanian Shilling.

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