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Nigerian government restrictions on foreign exchange hits businesses

Nigeria’s budget came under scrutiny today with the visit of IMF chief Christine Lagarde. President Buhari’s plans are ambitious and Nigeria will have to borrow. He hopes some revenue can be increased by cracking down on corruption. However, recent government restrictions on foreign currency – including the use of Nigerian issued ATM cards abroad are affecting individuals and businesses badly. Yinka Makinde is a Lagos business woman dealing with imported textiles. She spoke to Sam Olukoya.

Buhari said last week during his “media chat” that he wasn’t aware of how these restrictions were affecting people. Perhaps he should have a listen to the businesswoman.

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