Rate Hike, Monetary Policy Not Enough to Reduce Inflation - LCCI The Lagos Chamber of Commerce and Industries (LCCI) says hiking interest rates or using monetary policy instruments alone will not reduce the high inflation rate. It said there must be a corresponding boost to the...

The naira dropped against the United States dollar at the parallel market from 355 on Friday to 357 on Monday, foreign exchange traders said. Analysts and traders linked the drop to the mounting fears among traders and investors over the flexible exchange rate policy proposed...