Showing posts with label Nigerian Firms. Show all posts
Showing posts with label Nigerian Firms. Show all posts

Friday, 25 September 2015

Nigerian firms in trouble as central bank measures backfire - Reuters and international community begin to understand the real Buhari

Nigerian firms in trouble as central bank measures backfire
  • Nigeria imposes forex controls, bans import of 680 items

  • Manufacturers warn import ban might force closure of plants

  • Companies wait for weeks to get dollars to pay suppliers

  • Africa's biggest economy suffers from oil price crash

Nigerian companies making anything from soap to tomato paste could run out of raw materials and be forced to shut down as Africa's top oil producer has effectively banned the import of almost 700 goods to prevent a currency collapse.