Nigeria's Political Deadlock Threatens Economic Rebound

Nigeria’s central bank has fallen victim to a battle between President Muhammadu Buhari and his parliament.

The Monetary Policy Committee won’t meet as scheduled this week because it lacks a quorum after the Senate refused to approve Buhari’s nominees for the panel, meaning the central bank couldn’t formally set interest rates. That setback adds to the economic fallout from a longstanding political standoff: lawmakers are threatening to delay his budget for a third year amid acrimony over who is to blame for the impasse and haggling over allocations.