Nigeria Central Bank to Announce New Currency Policy Wednesday

| June 14, 2016

Nigeria Central Bank to Announce New Currency Policy Wednesday
Nigeria’s central bank Governor Godwin Emefiele will unveil a new currency policy on Wednesday afternoon in Abuja, the capital, according to a spokesman.The governor’s announcement will be televised, Isaac Okorafor said by phone from Abuja.Emefiele has faced calls for more than a year to devalue the currency, as other oil exporters from Russia to Kazakhstan and Angola have done, amid a rout in crude prices since mid-2014 to around $50 a barrel. Investment into Nigeria has shriveled as foreigners are put off by capital controls needed to defend the currency’s peg of 197-199 per dollar, while local businesses have struggled to import raw materials and equipment...

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Spotlight

A Blockchain-Backed Loan is money borrowed for any kind of personal or business use, such as making a big purchase, paying off credit card debt, investing in home improvements, taking a vacation, or paying for business expenses. The loan is collateralized by a blockchain asset, such as Bitcoin.

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