PZ Cussons Pays 70% Premium for Dollars in Nigeria on Shortage

  • Most of the company's dollars purchased outside official rate
  • Situation in Nigeria `extremely fluid,' soap maker says

PZ Cussons Plc said it is paying as much as 70 percent more than the official rate for dollars in Nigeria as central-bank trading restrictions reduce availability of foreign currency in Africa’s biggest economy.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.