The declining value of the Nigerian naira
is having a direct impact on the domestic pharmaceutical sector, as the country imports a large number of raw materials, reports the Nigerian Observer.
The Board of Governors of the African Development Bank Group (AfDB) through its private sector window approved a $12 million line of credit (LOC) equivalent in Nigerian Naira
to LAPO Microfinance Bank (LAPO MfB) in Nigeria.
In 2012 and for most of 2013, other important African currencies like the Nigerian naira
, the Ghanaian cedi and the Kenyan shilling were also strong.
A laptop bag with 106,500 Nigerian Naira
(Dh 2,480), passport, laptop, blackberry, cheque books and watch was left behind in my cab," said Arif, who hails from Sialkot in Punjab.
From December 2008 to date, the Nigerian naira
has devalued against the US dollar by 36 percent (Omoigui-Okauru, 2009).
The firm trades in Nigeria and said overall profitability in the African country was ahead, despite a weakening of the Nigerian naira
versus the US dollar.
I gave them what I had - 12,000 US dollars, 500,000 Nigerian naira
, and some personal money that I had in a box.
But less noticed have been falls against currencies like the Bangladeshi taka (down 22% since June 2007), Tanzanian shilling (down 19%) and the Nigerian naira
In Nigeria, for example, affected farmers have yet to be compensated >50 million Nigerian Naira
Unlike a decade ago, when 25%-plus annual devaluation was the norm in many African countries, principal currencies (notably the South Africa rand, the CFA franc, the Nigerian naira
, the Algerian dinar and the Kenyan shilling) have shown greater stability in recent years.
00 [approximately equal to] 92 Nigerian Naira
in 1999) showed the least time overrun of 18.
When Junior Achievement Namibia informed me of the news that I was to be one of four girls to attend a Leadership Achievement Empowerment and Development (LEAD) Camp in Lagos, Nigeria, the first thing that came into my mind was "what am I going to buy in that country," as I thought of the high exchange rate of the Nigerian Naira
to our Namibian Dollar.