Nigerian president tells central bank to change forex policy
Central bank defends industrial subsidies and says border has been closed to prevent smuggling
Nigeria’s president has told the country’s central bank to stop providing importers of key goods with foreign exchange, as signs of possible economic crisis grow.
The Central Bank of Nigeria has also issued a statement strongly criticising an influential think-tank that had accused it of forcing through harmful economic policies. The central bank statement said that Nigeria’s government had closed the country’s borders to stop local farmers being forced out of business by smuggled goods.
Niger
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