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February 22, 2018

Britain to add Nigeria's naira to list of accepted trade currencies

A man counts the Nigerian naira at a currency exchange market in Ikeja district in Lagos, Nigeria August 12, 2017. /REUTERS
A man counts the Nigerian naira at a currency exchange market in Ikeja district in Lagos, Nigeria August 12, 2017. /REUTERS

Britain’s export finance agency will add the naira to its list of “pre-approved currencies”.

This will allow it to provide financing for transactions with Nigerian businesses denominated in the local currency.

The naira will become one of three West African currencies that UK Export Finance has pre-approved for its programme of funding transactions that promote trade with Britain, it said. 

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