Nigeria: Swan song for Emefiele as Tinubu prepares to take office

  • The CBN hiked by 50bps yesterday to 18.5% in what could be the last MPC meeting for Governor Emefiele

  • Incoming President Tinubu takes office on 29th and expectations will be high for first 100 days in office

  • Failure to quickly liberalise FX rate and remove fuel subsidy would bode ill for reform prospects; retain Buy on credit

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