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FX ban on food importation means higher inflation rate, wider parallel market rates

Published by BusinessDay on Sat, 12 Sep 2020


President Muhammadu Buhari's directive to the Central Bank of Nigeria (CBN) to place a ban on FX for food importation, if implemented, would mean that food importers in Nigeria would not be able to access dollar at the Central Bank's official rate of N379, a rate that is mostly accessible to the government and selected []
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