Nigeria’s Dollar Sales Seen Opening Illegal Trade Loophole
- Operators ordered to sell dollars at below black-market rate
- Agents aware of arbitrage possibility, will sanction offenders
Photographer: KC Nwakalor/Bloomberg
This article is for subscribers only.
Sign up to our Next Africa newsletter and follow Bloomberg Africa on Twitter
Nigeria’s central bank’s decision to resume the supply of dollars to money changers is raising the risk unscrupulous traders will profit from the country’s multiple exchange rates, according to Rand Merchant Bank.