Nigeria Central Bank Cracks Down on Money Laundering

Nigeria’s central bank has announced new measures to tackle money laundering it says is weakening the naira currency and risks pushing up inflation, and which it suspects is linked to early political campaigning for 2015 elections.
“Available statistics indicate that Nigeria has become the largest importer of U.S. dollars,” the regulator said in Friday’s notice explaining that its twice-weekly wholesale foreign exchange auction will be replaced with a retail version …

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