Nigeria will have to devalue in 2016: S&P

Ratings agency Standard & Poor's reiterated on Thursday that Nigeria will have to devalue its currency, saying it expected this to happen at some stage in 2016 and in gradual adjustments. Despite growing pressure, Nigeria's government has kept the naira pegged at around 198 to the dollar on the official interbank market, while restricting access to dollars. "Their line has been to try to hold it as much as possible, and they are trying to continue that policy...alongside the restrictions on