Nigeria Sees $10 Billion Inflows Easing Liquidity Crunch
- Street trading of the naira may be made illegal, official says
- Naira plunges about 4% in the parallel market on Monday
The naira slid to the brink of 1,000 per dollar on the official market on Oct. 20.
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Nigeria expects to receive $10 billion of inflows in the coming weeks that will help ease a liquidity crunch weighing on the naira.
The government has a “line of sight” on the inflows into the country “in weeks rather than months,” Finance Minister Wale Edun said at the Nigerian Economic Summit in the capital, Abuja, on Monday. He didn’t disclose details.