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Monday, 1 August 2016

Nigeria tells banks to make extra provisions on dollar loans

Nigeria tells banks to make extra provisions on dollar loans

Nigeria's central bank has told commercial lenders to set aside extra provisions
against their dollar loans immediately in the wake of the sharp fall in the
naira.
The local currency has dropped 40 percent since June, when Nigeria ditched its
16-month-old peg of 197 naira to the dollar in a bid to lure back foreign
investors [...]

Appeared First On http://www.massivetrendz.com

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