Heineken Nigeria Unit Says Naira Scarcity Adds to Inflation Pain
People waiting in line at a bank to withdraw naira banknotes on February 23 in Lagos, Nigeria.
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Nigerian Breweries Plc, a unit of Heineken NV, said a shortage of Nigerian naira denominations has worsened a lack of demand by consumers after inflation curbed purchasing power.
The situation aggravated in the last two months as security concerns increased ahead of the country’s presidential elections on Feb. 25.