Nigeria Investors Fear Being Able to Exit After Bank Clampdown

Foreign investors in Nigeria are concerned that measures taken by the central bank to prevent speculation against the falling naira will hinder their ability to sell investments in the country.

“The reality is that if you have $100 million dollars invested in Nigeria, in the current environment it would probably take you a year to source that foreign exchange,” Samir Gadio, head of African strategy at Standard Chartered Plc, said by phone from London. “Some people would argue that the lack of foreign-exchange liquidity these measures cause could implicitly be compared to capital controls, although they’re not formally.”