- Nation’s bonds best emerging-markets performers on Monday
- Naira may weaken to 700 to the dollar after Emefiele detention
Nigeria’s dollar debt surged after the surprise weekend ouster of the central bank chief, and as fresh comments on merging multiple exchange rates added to signs that President Bola Tinubu is resetting policies blamed for crippling Africa’s biggest economy.
Governor Godwin Emefiele was suspended by Tinubu after the markets closed on Friday, and then detained by Nigeria’s state security service a day later for unexplained “investigative reasons.” Folashodun Shonubi, a deputy governor in charge of operations at the bank, took over in an acting capacity
