Economics

Nigeria Flirts With Economic Disaster as Naira Controls Stay

Central bank resists calls to devalue naira following oil drop
Currency restrictions hurting businesses, curbing output

An employee communicates by radio aboard the a floating oil production, storage and offloading vessel, in the Agbami deepwater oilfield in the Niger Delta, Nigeria, on Dec. 2, 2015. — An employee communicates by radio aboard the a floating oil production, storage and offloading vessel, in the Agbami deepwater oilfield in the Niger Delta, Nigeria, on Dec. 2, 2015.
Photographer: George Osodi/Bloomberg

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By Yinka Ibukun, Xola Potelwa, and Emele Onu

January 26, 2016 at 5:02 PM UTC

Updated on

January 27, 2016 at 5:14 AM UTC

This article is for subscribers only.

Nigeria’s economic crisis just got a whole lot worse.

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