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| Nigeria flirts with Economic DISASTER as Naira controls stay - Nigeria receives another hard knock from Bloomberg |
- Central bank resists calls to devalue naira following oil drop
- Currency restrictions hurting businesses, curbing output
Central bank Governor Godwin Emefiele on Tuesday resisted calls -- again -- to weaken the currency despite a plunge in oil prices that’s slashed revenue in Africa’s biggest crude producer. He stuck to his foreign-exchange restrictions that have led to capital flight, curbed output in the continent’s largest economy and led to the naira dropping to a record low on the black market.
