Britain’s finance agency to add naira to its list of “pre-approved currencies”

Nigerian Naira

Britain’s export finance agency will add the naira to its list of “pre-approved currencies”, allowing it to provide financing for transactions with Nigerian businesses denominated in the local currency.

The naira will become one of three West African currencies that UK Export Finance has pre-approved for its programme of funding transactions that promote trade with Britain, it said.

Britain voted in 2016 to leave the European Union, which has forced London to rethink its trade ties with the rest of the world.