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LequteMan
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Chief Financial Officer of MTN Group, Brett Goschen, said he expects Nigeria to devalue the naira by up to 22 percent at some point this year, Reuters reports.
The naira trades officially at 197 against the dollar but changes hands on the black market at nearer 350 to the greenback. Goschen said he expects Nigeria's central bank will devalue the official rate to 230-240/$ this year.
Africa's biggest wireless operator is in talks with Nigerian authorities to reduce a $3.9 billion fine imposed last year for failing to cut off unregistered SIM card users.
The naira trades officially at 197 against the dollar but changes hands on the black market at nearer 350 to the greenback. Goschen said he expects Nigeria's central bank will devalue the official rate to 230-240/$ this year.
Africa's biggest wireless operator is in talks with Nigerian authorities to reduce a $3.9 billion fine imposed last year for failing to cut off unregistered SIM card users.
