Investors are welcoming Nigeria's decision to float its currency. However, experts say some may stay away from the country until the economy shows signs of recovering from the damage inflicted by a 16-month exchange rate peg. This week Nigeria ditched that peg, which had curbed foreign exchange, led to capital flight and caused its first economic contraction since the 1990s. Investors, local businesses and international lenders had called for a devaluation of the Naira for months, after a steep oil price tumble tore apart the country's finances and the government burned through its hard currency reserves.
