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Nigeria: FX shortages frustrate Tinubu’s plan to lure FDI back - THE AFRICA REPORT
Changes tOthe monetary policy have done little to attract foreign investors, as Africa’s largest economy continue to suffer a trade deficit.
Eager to bring back foreign investors that had fled Nigeria due to their inability to repatriate funds, President Bola Tinubu introduced a foreign exchange policy that devalued the local currency hoping to unify the country’s multiple exchange rates. But things are not going as planned.
