Photographer: Pius Utomi Ekpei/AFP via Getty Images

Nigeria Trading Exchange Calls on Central Bank to Free Naira

  • ‘Moral suasion’ used to bolster currency, FMDQ’s Onadele says
  • Bank CEOs wary of being ‘reprimanded’ over naira trades

The head of Nigeria’s foreign-exchange trading platform said the central bank is using “strong moral suasion” to prevent the naira from depreciating to a market-related level, and called on the regulator to let the currency float freely.

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