FG URGED TO PASS PIB TO REDUCE PRESSURE ON NAIRA

The Institute of International Finance,IIF, has urged Federal Government to pass the Petroleum Industry Bill, PIB, to reduce pressure on the Naira. The currency has come under pressure over the past two months from falling global oil prices and reduced appetite for assets. Though, the Central Bank of Nigeria has been intervening since the beginning of this year to prop up its value, but the Naira has lost 7.2 per cent since January 2

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