Nigerian businesses hit hard by unresolved $2.4bn FX forward contracts

Consumers face price hikes as manufacturers’ raw materials deplete

Segun Ajayi-Kadir, the director-general of Manufacturers Association of Nigeria

Abdullahi Abiola, a Nigerian businessman whose business involved importing foreign printing materials, lamented that the apex bank's inability to honor matured FX contracts for over one year since the start of President Bola Tinubu's administration has placed him under severe interest rates as high

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