The International Monetary Fund has called for a unified exchange rate to help strengthen Nigeria’s economy, OduNews reports.
IMF Representative for Nigeria, Mr Ari Aisen, listed this among other IMF policy recommendations in a keynote address at the quarterly meeting of the Financial Market Dealers Association (FMDA), hosted by First Bank Limited recently.
To maintain competitiveness benefits from any country-wide exchange rate adjustment, he proposed complementing macroeconomic and structural reforms.
The First Bank of Nigeria Limited’s Managing Director/CEO, Gbenga Shobo, agreed with the IMF’s assessment, saying that as the Nigerian financial market has developed over time, it is now important to develop strategies that will enable it to produce the desired results for everyone to see and benefit from.
The Executive Director and Chief Risk Officer, First Bank Limited, Olusegun Alebiosu, said the bank is committed to supporting federal government efforts to drive economic growth.
“And we are optimistic that the 2023 economy will grow generally because Nigerians are resilient, smart, and hardworking people that always come up with smart innovations.”
“It is promising that something great will come from the economy in 2023,” he said.
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