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Nigeria FX Rules Backed by Woman Who May Be Finance Minister

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Kemi Adeosun, tipped by some analysts to be the next Nigerian finance minister, said a currency devaluation on its own won’t solve the nation’s economic problems and she supports the central bank’s foreign-exchange restrictions.

“What the Central Bank of Nigeria governor has done is brought in some breathing space because if we allowed the market to continue, all our reserves would have been depleted,” Adeosun, 48, told lawmakers during her Senate confirmation hearing on Wednesday.