Breaking News: Nigeria Halts Move by Central Bank Governor to Re-Denominate Currency

ABUJA, Nigeria: Nigeria said Friday it was halting a plan to manage inflation better by dropping two decimal places from the national currency, claiming the initiative by the country's central bank had not received the approval of President Umaru Yar'Adua. The attorney general, Michael Aondoaka, said that "by embarking on the agenda without the approval of the president," the central bank governor Chukwuma Soludo violated the law guiding the existence of the reserve bank. View Details>>