IMF Gerry Rice praises Central Bank of Nigeria’s flexible forex ploicy - TVC

The International Monetary Fund (IMF) has hailed the decision by the Central Bank of Nigeria (CBN) to abandon its currency peg and adopt a flexible exchange rate policy, saying this was important to reduce fiscal and external imbalances.

IMF spokesman, Gerry Rice, said that the Fund wanted to see how effectively the Naira exchange market functions once the new float system is put into effect next Monday (today).