‘The currency is strengthened because of the discipline in the monetary policy framework and explicit inflation targeting and having a transparent foreign exchange market.’
Bismark Rewane, an economist and Chief Executive Officer of Financial Derivatives, says Nigeria’s currency has stabilized.
Rewane spoke during an interview on Channels Television Business Morning on Thursday.
He said the strength of the naira in the last months is due the Central Bank of Nigeria’s monetary framework and transparency in the country’s foreign exchange market.
Rewane noted that everyone seems to agree that the Nigeria’s economy is leaping its way out of crisis.
“The currency is strengthened because of the discipline in the monetary policy framework and explicit inflation targeting and having a transparent foreign exchange market.
“If we didn’t have that by now, Nigeria’s inflation data would be frightening to those of us domestically and internationally. But right now everybody seems to align that the Nigerian economy is leaping its way out of crisis,” he stated.
Rewane’s remarks come as Nigeria’s inflation dropped to 22.22 percent in June 2025
He earlier said that the Central Bank of Nigeria may cut the interest rate, which stood at 27.50 percent currently, by 25 basis points at its next Monetary Policy Committee meeting.
