Nigeria: Border Closure - West African CFA Franc Crashes

19 September 2019

Lagos — The West African currency, CFA Franc, has crashed against the Naira to a new record low at the open market trading at 5680 CFA to N1000 due to the closure of Nigeria's land borders.

The nation's borders in four regions were shut down at the instance of a directive from the Office of the National Security Adviser (NSA) owing to the state of insecurity in the country.

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