8th March, 2011
Mr Olusegun Aganga, the Minister of Finance, has said that the International Monetary Fund (IMF) did not ask Nigeria to devalue its currency as widely reported recently.
The minister told the News Agency of Nigeria (NAN) on Monday in Abeokuta that the IMF only advised Nigeria on its exchange rate policy.
â€œIMF did not say we should devalue the naira and did not have the authority to ask any country to do so.
â€œThey looked at our economy, fiscal and monetary policy and advised that we should consider making it more flexible on how we can determine our exchange rate,â€ he explained.