“Sinosure has informed its customers that they won’t accept to do business with Nigeria for now, given the exchange shortage issues,” a source told Asoko Insider

“Many Chinese suppliers like Shandong (big MSG co) were working with them and will have to find another export insurance company.”

As of this morning (February 16, 2016) the Naira has devalued against dollar at N350 to $1, and reports have it that Naira is being hoarded with the believe that it will fall.