Africa Business News

The International Monetary Fund has said the naira is currently under pressure and Nigeria is free to seek a loan from the Fund to stabilise the currency if it considers a good option. The Washington-based lender however noted that recent exchange reforms and other steps taken by the Nigerian authorities were in order. It also expressed support for Olayemi Cardoso-led Central Bank of Nigeria’s last week’s decision to halt the eight-year foreign exchange ban on cement, rice, poultry products and 40 other items. IMF said inflation in Nigeria was till high at 26 per cent in August while the naira continued to be under pressure.This show is part of the Spreaker Prime Network, if you are interested in advertising on this podcast, contact us at https://www.spreaker.com/show/4166630/advertisement