Nigeria should switch to managed currency float, Ecobank says

Nigeria should switch to managed currency float, Ecobank says

Nigeria, whose currency lost almost 8 percent against the dollar this year, would benefit from letting market forces have more say over its exchange rate, according to Albert Essien, chief executive officer of Ecobank Transnational Inc. “I would move to a regime of managed floating of the currency,” Essien, head of the largest pan-African lender…

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