Central Bank of Nigeria's efforts to save the naira against other foreign exchange has crumbled, the International Monetary Fund (IMF) has said.
The IMF also said the challenges around foreign exchange in Nigeria have pushed inflation to double digits in Africa’s largest economy.
In its policy...
The International Monetary Fund, IMF, has welcomed the decision by the Central Bank of Nigeria to abandon its currency peg and adopt a flexible exchange rate policy.
According to IMF spokesman Gerry Rice, the move was important to reduce fiscal and external imbalances in Nigeria's economy.
"I...
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