Aminu Gwadabe News

Godwin Emefiele, Governor, Central Bank of Nigeria

Nigeria Central Bank Cuts Flow of Dollars to Money Changers

Nigeria’s central bank stopped selling foreign exchange to money-changers as it struggles to stabilize the naira amid a plunge in oil prices that have hit government finances.

A textile shop at the Oshodi market in Lagos. Photographer: Pius Utomi Ekopei/AFP/Getty Images

No Dollar Access Imperils Nigerian Retailers, Spurs Prices

Mojeed Jamiu is cutting jobs and raising prices to prevent his furniture and clothing store in Lagos from closing after Central Bank of Nigeria Governor Godwin Emefiele restricted foreign currency supply for some imports.