Ibrahim Mu’azu News

The Naira weakened 20% to a record low of 206.32 per dollar in the year through Feb. 12

JPMorgan to remove Nigeria from emerging market bond indexes

JPMorgan Chase & Co. has excluded Nigeria from its local-currency emerging market bond indexes tracked by more than $200 billion of funds, after restrictions on foreign-exchange transactions prompted investor concerns about a shortage of liquidity.

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.

Nigeria’s President-elect Muhammadu Buhari

Buhari will release full audit on Nigerian National Petroleum Corporation (NNPC)

Nigerian President-elect Muhammadu Buhari’s administration will publish the full audit of the state oil company and expects it will need to repay the government more than previously recommended, his party’s policy director said.