Renowned economist and Chief Executive Officer of Financial Derivatives, Bismark Rewane, says Nigeria’s currency has stabilized.
Rewane, who spoke during an interview on a television programme on Thursday, said the strength of the naira in the last months is due the Central Bank of Nigeria (CBN)’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% in June 2025.
He earlier said that the CBN may cut the interest rate, which stood at 27.50 percent currently, by 25 basis points at its next Monetary Policy Committee (MPC) meeting.
