Nigeria Lawmakers Worry About Gap Between Official, Black Market Naira Rates

Nigerian lawmakers have adopted an official exchange rate of 305 naira per dollar for the 2017 budget but have asked the central bank to initiate measures to close the 40 percent spread with the black market, the deputy senate president said on Wednesday. Members of the upper house of parliament said during a review of the budget on Wednesday that they were worried about the exchange rate differential, which they described as damaging to the economy and said had led to a loss of investor...

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