The International Monetary Fund has expressed support for the newly announced policy reform in the Nigeria’s foreign exchange management.
IMF Resident Representative in Nigeria, Ari Aisen in a statement on Friday said the fund welcomes the authorities’ decision to introduce a unified market-reflective exchange rate regime in line with its long-standing recommendations.
The IMF said it would support the new administration in its implementation of FX reforms.
The Central Bank of Nigeria had on Wednesday announced a unification of foreign exchange rates in compliance with President Bola Tinubu’s inaugural address where he said multiple rate regime would be abolished along with other reforms in Monetary Policy.
The IMF had consistently called for an abolition of multiple forex rate regime in Nigeria
RN
