However, the Washington-based lender acknowledged that other actions made by the Nigerian government, including recent currency changes, were appropriate.
The naira is now under pressure, according to the International Monetary Fund, and Nigeria is free to request a loan from the Fund to stabilize the currency if it thinks doing so is a wise move.
The IMF said that while the naira was still under pressure, inflation in Nigeria was still high, coming in at 26% in August. The IMF’s assessment was given during the World Bank Group/International Monetary Fund meeting in Marrakech, Morocco.
