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Vol 57 No 3

Published 5th February 2016


Nigeria

The logic of naira nationalism

Business and government are locked in a dispute about the exchange rate as officials try to rebuild the economy 

Political convention has it that an incoming government has six months to blame its predecessor for the economic and other devastation which it has inherited. However, Nigeria's demanding business class has wasted no time in pressuring President Muhammadu Buhari's government to change tack economically and is now predicting doom unless the naira is sharply devalued and the Central Bank of Nigeria (CBN) lifts its current array of curbs on foreign exchange trading.

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