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Naira: Nigeria clampdown on black market operators and currency hoarding

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In Nigeria, operatives of the Economic and Financial Crimes Commission raided the offices of black market currency dealers in Abuja on Tuesday in a bid to halt the rapid fall of the naira.

Naira plunged rapidly between Monday and Tuesday to more than 840 in Abuja a week after the Central Bank of Nigeria said it will replace higher notes to fight counterfeiting, inflation and insecurity.

Usman Umar completes the story

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Naira: Nigeria clampdown on black market operators and currency hoarding

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