FG automates forex transactions as naira slumps to 1,220/dol

By Philip S. Clement, Muideen Olaniyi (Abuja) & Abdullateef Aliyu (Lagos) The federal government yesterday announced plans to automate transactions in the entire foreign exchange market in order to close the wide arbitrage and punish naira speculators. The Minister of Finance and Coordinating Minister for the Economy, Wale Edun, disclosed this in Abuja during the…

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