Free-Float Flounders as Nigerian Naira Hits Black-Market Low

  • Street traders skeptical about central bank’s liquidity pledge
  • Official rate seen as unsustainable as dollar shortage endures

Sitting in his cramped office in the basement of a Chinese-themed hotel in Lagos, Abubakar Mohammed complains about a shortage of dollars that’s crippling Nigeria’s economy and driving black-market naira rates to a record.

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