Recent Examples of naira from the Web
The government wants to raise $2.5 billion in October to help fund 2017’s 7.4 trillion-naira ($20.8 billion) budget, the biggest yet, DMO Director-General Patience Oniha said on Wednesday in an interview in the capital, Abuja.
In June 2016, the fine was reduced by 330 billion naira ($1.7 billion at the time, now $917.9 million due to a drastic weakening of the naira), payable over three years, following lengthy negotiations.
Nigeria’s target is to reach 5 million cash-transfer beneficiary households in five years from the 27,000 currently receiving 5,000 naira a month.
The naira has stabilized at about 380 per dollar for portfolio investors and on the black market, while the interbank rate is about 315.
In 2009, a credit crunch prompted the government to create the Asset Management Corp. of Nigeria, or Amcon, which bought about 14,000 non-performing loans from 10 banks at a cost of 3.9 trillion naira ($12 billion).
Gunmen had been demanding a ransom of 60 million naira (about $200,000) for the release of Professor Peter Breunig and his assistant, Johannes Behringer.
Nigeria’s currency, the naira, collapsed to record lows this month after Nigeria’s central bank placed restrictions on the sale of American dollars to protect its shrinking foreign reserves.
These example sentences are selected automatically from various online news sources to reflect current usage of the word 'naira.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.
Origin and Etymology of naira
First Known Use: 1972See Words from the same year
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