Tag Archives: Nigerian naira

Nigerian pirates demand $1.3 mln for kidnapped sailors

February 20, 2013 by IndepthAfrica

(Reuters) – Pirates who kidnapped six foreign sailors from an oil servicing vessel off the Nigerian coast on Sunday are demanding 200 million naira ($1.3 million) for their release, police said on Wednesday. One Russian, three Ukrainian and two Indian … read more »

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The Judiciary’s Complicity in the Rape And Looting of Nigeria

February 7, 2013 by IndepthAfrica

By Akintokunbo A Adejumo “Money and Corruption Are ruining the land, Crooked politicians Betray the working man, Pocketing the profits And treating us like sheep, And we’re tired of hearing promises, That we know they’ll never keep.”  –Ray Davies: Once … read more »

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Nigeria’s finance minister orders fuel subsidy slow down

June 15, 2012 by IndepthAfrica

Nigeria’s finance minister said on Thursday she had ordered a slow down to fuel subsidy payments to allow verification that they are for genuine deliveries, an effort to combat fraud costing it billions of dollars. “I decided that we should … read more »

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Nigeria: Naira under foreign investor selling pressure

June 6, 2012 by IndepthAfrica

Nigeria’s naira currency eased further against the dollar on the interbank market on Wednesday, to its weakest level since Dec. 29, as demand for the dollar outpaced supply, traders said on Wednesday. The naira was trading at 163.05 to the … read more »

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Nigeria passes 4.97 trln naira 2011 budget

March 17, 2011 by benim

Nigeria’s Senate on Wednesday passed a 4.972 trillion naira 2011 budget weeks ahead of elections, based on a benchmark oil price of $75 a barrel and oil production of 2.3 million barrels per day. The budget assumes an exchange rate … read more »

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