How to Use naira in a Sentence

naira

noun

• The launch of the e-naira in Nigeria does not come as a surprise to some observers.
  — Kingsley Kobo, Quartz, 30 Dec. 2021
• The cash crunch comes amid a grim economic outlook, with the naira at an all-time low against the dollar.
  — Ope Adetayo, Washington Post, 2 Mar. 2023
• At any point in the last few years, Nigeria’s naira has always had multiple exchange rates.
  — Yomi Kazeem, Quartz Africa, 30 Nov. 2020
• Yet those comments are unlikely to reduce pressure on the naira.
  — Yomi Kazeem, Quartz Africa, 30 Nov. 2020
• The thieves got away with millions of naira in local currency after using dynamite to blow up a vault in one bank.
  — Bukola Adebayo, CNN, 4 June 2018
• For the Duke crew, pirates demanded 2 billion naira (about $5 million).
  — Saudamini Jain, CNN, 20 Mar. 2021
• Emefiele is known in Nigeria for his dogged defense of the naira, sometimes to counterproductive ends.
  — Alexander Onukwue, Quartz, 30 Sep. 2021
• The local unit changed hands at 483 naira to the greenback on the parallel market on Tuesday, according to abokifx.com, a website that collates street rates in Lagos.
  — Tope Alake, Bloomberg.com, 24 Nov. 2020
• This month, lawmakers are set to vote on expanding this year’s spending plans to a record 8.6 trillion naira ($23 billion), a third of which is planned investment in roads, rail, bridges, ports and power.
  — David Malingha Doya, Bloomberg.com, 23 Apr. 2018
• Intended to curb dollar scarcity and curtail parallel forex exchange markets, the move has sent the naira down by 36% on the official market on June 14.
  — Faustine Ngila, Quartz, 16 June 2023
• Nigeria’s official exchange rate should not be determined by the parallel market where the naira value has weakened to a three-month low.
  — Tope Alake, Bloomberg.com, 24 Nov. 2020
• Already above target for more than five years, inflation has continued to accelerate and pressure on the naira increased, which may force the MPC to hold on Tuesday.
  — Ruth Olurounbi, Bloomberg.com, 21 Nov. 2020
• Nigeria’s economy is being ravaged by a slump in oil prices that have dried up dollar supplies and a naira that was devalued earlier this year.
  — Janice Kew, Bloomberg.com, 3 Aug. 2020
• Limited prints the naira, and may likely be selected to mint the future co if member states do manage to figure out the regional solution.
  — Kingsley Kobo, Quartz, 30 Dec. 2021
• Eight years ago, at Shell’s request, First Bank provided a guarantee to the community for the original 17 billion-naira award.
  — William Clowes, Bloomberg.com, 14 Jan. 2021
• Nigerian officials said recently that the increasing use of bitcoin could erode the value of the local currency, the naira.
  — Jared Malsin, WSJ, 16 Apr. 2021
• Because of the fall of Nigeria’s local currency, the naira, food prices have driven inflation in Africa’s largest economy to nearly 20% on a yearly basis.
  — Nate Dicamillo, Quartz, 9 Sep. 2022
• Secondly, he was also required to provide two sureties who own properties in Abuja worth 50 million naira each.
  — Rudolf Ogoo Okonkwo, Quartz Africa, 16 Nov. 2019
• The eNaira is supposed to live within a mobile wallet (pdf), have the same value and be interchangeable with the physical naira for everyday transactions.
  — Alexander Onukwue, Quartz, 28 Oct. 2021
• But some analysts, politicians and dozens of Nigerian voters said that the real reason was to stem vote buying by foiling politicians who had stockpiled naira ahead of election day.
  — Ruth MacLean, New York Times, 22 Feb. 2023
• But telecom operators in the country have to navigate shifting regulations, wild swings in the naira and frequent power cuts.
  — Alexandra Wexler, WSJ, 30 Aug. 2018
• The move came on the heels of a nationwide crackdown on banks dealing in cryptocurrencies, which the government enacted in an attempt to counteract the naira’s declining value.
  — Roya Wolverson, Quartz, 26 Mar. 2021
• Nigeria’s naira has fallen to its weakest level in six weeks in informal trading as the central bank’s interventions in the official window failed to meet demand.
  — Tope Alake, Bloomberg.com, 13 Nov. 2020
• It has been forced to devalue its currency, the naira, twice since March, and take its first-ever loan from the International Monetary Fund, which forecasts a 5.4% economic contraction this year.
  — Antony Sguazzin, Bloomberg.com, 28 Aug. 2020
• Rising inflation has been a global story in many countries this year, including in Ghana’s neighbor Nigeria where the central bank raised interest rates last month to combat price spikes and a weakening naira.
  — Alexander Onukwue, Quartz, 22 Oct. 2022
• The unrest and the authorities’ increasingly heavy-handed response has begun to unnerve financial markets, with the naira dropping as much as 1.2% against the dollar on Thursday, the most of any African currency.
  — William Clowes, Bloomberg.com, 22 Oct. 2020
• 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.
  — Norimitsu Onishi, New York Times, 25 Jan. 2016
• Policy makers have adopted a system of multiple exchange rates, including a trading window for foreign investors known as Nafex in which the naira was allowed to weaken.
  — David Malingha Doya, Bloomberg.com, 27 Feb. 2018
• Governor Sanwo-Olu stated in his speech that more than 1 million dollars (420 million naira) have been paid to victims of police brutality in line with the panel's recommendations.
  — Nimi Princewill, CNN, 30 Nov. 2021
• NetBlocks, which tracks internet governance, estimated that each day of the Twitter shutdown will cost the Nigerian economy over 2 billion naira ($6 million).
  — Jeffrey Conroy-Krutz, Quartz, 7 June 2021

Last Updated: 17 Jul 2024