Nigeria’s central bank Governor Godwin Emefiele will unveil a new currency policy on Wednesday afternoon in Abuja, the capital, according to a spokesman. The governor’s announcement will be televised, Isaac Okorafor said by phone from Abuja. Emefiele has faced calls for more than a year to devalue the currency, as other oil exporters from Russia to Kazakhstan and Angola have done, amid a rout in crude prices since mid-2014 to around $50 a barrel. Investment into Nigeria has shriveled as foreigners are put off by capital controls needed to defend the currency’s peg of 197-199 per dollar, while local businesses have struggled to import raw materials and equipment. Analysts including those at Renaissance Capital Ltd. have said they expect the central bank to allow the naira to weaken in the interbank market , while allocating dollars at a fixed, subsidized rate to industries the government deems strategic. The central […]