Nigeria: ‘FOREX Scarcity Costs Private Sector N1.4trillion Noss in 6 months’

Investors in various sectors of the Nigerian economy are weighing the negative impact of the scarcity of foreign exchange on their businesses, with the Lagos Chamber of Commerce and Industry (LCCI) saying some of its members lost about N1.46 trillion in six months.

The LCCI Director-General, Muda Yusuf, attributed the loss to stalled business activities due to inadequate supply of foreign exchange as a result of Federal Government’s policy on foreign exchange restriction.  Read full on PremiumTimes