Nigeria's central bank said on Friday it will close the bank accounts of fi...
LAGOS - Nigeria’s central bank said on Friday it will close the bank accounts of firms caught smuggling into the country any goods for which access to foreign exchange has been restricted.
But the currency restrictions accelerated the descent of Africa’s biggest economy into recession and fuelled inflation. President Muhammadu Buhari has made boosting the agricultural sector a key priority to cutting Nigeria’s import bill and in April the government announced plans to double manufacturing output to 20% of GDP within six years.
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