A new IMF study finds that Nigeria's 2023 shift to a floating exchange-rate regime has strengthened monetary policy transmission and reduced foreign-exchange market distortions.

Nigeria

Who

International Monetary Fund (IMF), Central Bank of Nigeria (CBN), Nigeria

What

When

Fri, 19 Jun 2026 19:00:28 GMT · 2h 16m ago

Where

Nigeria ·

Why

The June 2023 exchange-rate unification reform aimed to eliminate market distortions and restore investor confidence, with the IMF study assessing its outcomes.

The Frontline Impact

How this affects you

The reform has reduced the parallel-market premium to 9 percent and increased exchange-rate volatility to 11.6 percent, improving transparency and investor confidence but increasing exposure to global financial shocks.

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Verified Sources & Citations

Devdiscourse
https://www.devdiscourse.com/article/other/3937242-why-nigerias-floating-naira-could-be-the-countrys-most-consequential-reform-yet
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