Nigerian Central Bank Ends Forex Restrictions on 43 Items, Embraces Market Forces for Exchange Rates
On October 12, the Nigerian central bank announced the removal of foreign exchange restrictions on the importation of 43 items. The central bank indicated that these restrictions, originally imposed in 2015, might have contributed to the devaluation of the naira on the parallel foreign exchange market. Unification of Naira’s Exchange Rates The Central Bank of…
