‘IMF Did Not Ask Us To Devalue Naira’

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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.

“IMF did not say we should devalue the naira and did not have the authority to ask any country to do so.

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“They 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,” he explained.

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