Nigeria Clamps Down on Forex Traders Amid Persistent Naira Woes

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Nigeria rounded up foreign currency street traders and took aim at a popular crypto trading platform in its latest effort to stem the free-fall of the naira.

The currency has declined sharply this week on the unofficial market — at one point on Thursday touching 1,900 to the dollar — widening its discount to the naira’s official rate and frustrating government efforts to unify the two.

The weakness extends a months-long slide since President Bola Tinubu-bsp-person> relaxed the country’s foreign exchange regime to attract foreign investment that Africa’s most populous nation badly needs.

The naira has …

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