The International Monetary Fund says the naira is currently under pressure and Nigeria is free to seek 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 made this known at the World Bank Group/International Monetary Fund Meeting in Marrakech, Morocco.
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. The past administration of the CBN had imposed the forex ban in 2015.
IMF said inflation in Nigeria was till high at 26 per cent in August while the naira continued to be under pressure.