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Sunday, October 4, 2015

Nigeria to ease foreign currency restrictions in the long-term

Oct 4 Nigeria will keep foreign currency restrictions for now to preserve the country's currency reserves amid falling oil revenues but the central bank will ease the rules in the long-term, the country's vice president said.

The current "restrictions are definitely short term. There is no question about that," Vice President Yemi Osibanjo told reporters late on Saturday. "So, long term, we expect that the central bank will ease restrictions as we go along."

(Reporting by Felix Onuah; Writing by Ulf Laessing. Editing by Jane Merriman - Reuters)

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