“It seems like all is well in Nigeria. There’s cash, ATM queues are reduced, and the elections are over, somewhat. But it isn’t all too well. The lack of trust in the political system has grown even more, foreign airlines are threatening to quit on trapped funds ($802mn), and flight tickets are 23 per cent more expensive as IATA rate has been adjusted to N561/$ from N462/$”, said Rewane.
He said, similar to the global trend, the monetary policy committee increased rates to 18 per cent per annum, also fueling recession fears in the country.
