It’s not a good sign for Nigeria’s economy. The naira has been in a free-fall since the suspension of central bank chief Lamido Sanusi, who is embroiled in a graft scandal.
“According to the Nigerian central bank, efforts were underway to stabilize the naira in a corridor of between 150 and 160 naira to the dollar,” reports DW.
President Goodluck Jonathan accuses Sanusi of financial recklessness and misconduct after it was found oil revenue was missing.