The decision by Nigeria’s central bank to float the embattled currency, the naira, comes into effect today.
The bank will now deal directly with 10 primary dealers who may then offer services to any organisation, individual or company seeking foreign exchange in the country.
This ends the months-long peg against the dollar by the apex bank.
Some experts believe that the naira's value will drop significantly and the inflation rate will increase as the new policy kicks off.
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