Currency Squeeze

Nigeria: Flutterwave FX sourcing product points way to easing shortages

By David Whitehouse

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Posted on September 19, 2023 08:12

A trader changes dollars with naira at a currency exchange store in Lagos. REUTERS/Joe Penney/File Photo

Nigeria’s fintech sector can help address the country’s crippling shortages of foreign currency, economists say.

A new product launched by Nigerian unicorn Flutterwave gives hope that Nigeria’s fintech sector can lead the way in finding solutions to the country’s shortages of foreign currency, economists say.

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