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The Nixon shock was the effect of a series of economic measures, including wage and price freezes, surcharges on imports, and the unilateral cancellation of the direct international convertibility of the United States dollar to gold, taken by United States president Richard Nixon on 15 August 1971 in response to increasing inflation.
Nigeria and her important dates, 1900-1966. 1966. Day to day events in Nigeria : a diary of important happenings in Nigeria from 1960-1970. 1982. Twenty-one years of independence : a calendar of major political and economic events in Nigeria, 1960-1981. 1982. Institut für Afrika-Kunde; Rolf Hofmeier, eds. (1990). "Nigeria".
The Smithsonian Agreement was created when the Group of Ten (G-10) states (Belgium, Canada, France, Germany, Italy, Japan, the Netherlands, Sweden, the United Kingdom, and the United States) raised the price of gold to 38 dollars, an 8.5% increase over the previous price at which the US government had promised to redeem dollars for gold. In ...
In the aftermath of the 1966 Nigerian counter-coup, anti-Igbo pogroms erupted across northern Nigeria, killing thousands of Igbos. Chukwuemeka Odumegwu Ojukwu declared the independence of Biafra in the Igbo-populated areas of Nigeria in 1967, and the federal government led by Yakubu Gowon launched a civil war against the secessionist entity. [1]
In August the government had made a new plan for the economy with rather extreme measures, measures which would later be dubbed "Nixon Shocks". The plan was announced on August 15, 1971 in a national televised address. Nixon declared that the gold window would be closed and that gold would no longer be transferable to US dollars. This created ...
Nigeria is a multinational state inhabited by more than 250 ethnic groups speaking 500 distinct languages, all identifying with a wide variety of cultures. [13] [14] [15] The three largest ethnic groups are the Hausa in the north, Yoruba in the west, and Igbo in the east, together constituting over 60% of the total population. [16]
The first-ever public execution in Nigeria took place at Bar Beach in 1971. It was of Babatunde Folorunsho, for armed robbery. [ 9 ] Others include Joseph Ilobo, Williams Alders Oyazimo, and Lawrence Anini and Dr. Oyenusi in the 90s.
1971 establishments in Nigeria (1 C, 4 P) N. 1971 Nigerian novels (2 P) This page was last edited on 2 March 2019, at 18:21 (UTC). Text is available under the ...