By Emma Ujah, Abuja Bureau Chief
The International Monetary Fund (IMF) has welcomed the new foreign exchange regime of a unified rate introduced by the Central Bank of Nigeria (CBN).
The Fund, in a brief statement by it Resident Representative, Mr. Ari Aisen, in Abuja, Friday, said that the unified rate was in line with its long-standing recommendation.
According to the IMF, it was ready to assist the government in the implementation of the new forex regime.
The statement reads in full, “The Fund greatly welcomes the authorities’ decision to introduce a unified market-reflective exchange rate regime in line with our long-standing recommendations.
“We stand ready to support the new administration in its implementation of FX reforms.”
Source: Vanguard