Sovereign Analysis /
Nigeria

Nigeria: Ban of abokiFX furthers FX folly

  • The CBN has singled out providers of parallel exchange rate data for "manipulation", prompting quotes to be suspended

  • This furthers heavy-handed policy of fighting "speculators" rather than allowing more flexibility in the FX market

  • Eurobond and SDR allocation may lower the spiraling parallel premium, but FX liberalisation is needed to restore balance

Nigeria: Ban of abokiFX furthers FX folly
Patrick Curran
Tellimer Research
28 September 2021
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