The Nigerian Currency Swap Has Become a Political Football

2min Snip

00:00

Play full episode

Summary

Transcript

Episode notes

Anu says the currency issue has become a political football in Nigeria. The main purpose for bringing in new notes was to stop politicians from buying votes, she says. But businesses have stopped accepting those old notes, right? Anu: People don't have confidence that if they collect the old notes as a business or as an individual and they take it to the bank, they will be able to get new notes out of the bank.

Nigeria’s highest court slapped a temporary ban on the plan to replace the country’s largest currency notes, and US regulators may ban non-compete clauses that stop workers from jumping to a rival company for a certain amount of time after quitting.

Mentioned in this podcast:

Nigeria’s top court halts botched plan to replace currency notes

US companies mount resistance to proposed ban on non-compete clauses

FT Live: Putin’s war on Ukraine: One year on

Lina Khan on CNBC

Download the FT Edit app here: ft.com/ftedit

The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.

Read a transcript of this episode on FT.com

Hosted on Acast. See acast.com/privacy for more information.