NIGERIA: NEW PRESIDENT SEEKS POLITICAL STAND-OFF WITH CENTRAL BANK GOVERNOR

   Tue, 07 March 2023

Nigeria’s incoming president is set to fight his first political battle with the central bank governor, who is blamed for a politically motivated cash swap during the election campaign. The central bank is also opposed to many of the incoming government’s policies, such as a devaluation of the naira currency, phasing out of central bank funded fuel subsidies, and other structural reforms. The outgoing government may speed up plans for a domestic debt swap before the new administration takes effect to avoid a protracted impasse.

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