International Monetary Fund backs Nigeria on border closure

The International Monetary Fund has backed Nigeria’s closure of its borders with some neighbouring countries over issues bordering on illegal trade.

Mr Abebe Selassie, the Director of the African Department at the IMF, gave the position at a media briefing on the sidelines of the World Bank/IMF Annual Meetings in Washington D.C.

He was responding to a question on whether the closure negates the African Continental Free Trade Agreement, AfCFTA.

Selassie said although free trade was critical to the economic growth of the continent, it must be legal and in line with agreements.

On Wednesday, the Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, said the borders were closed to curb illegal trading activities by Nigeria’s neighbours.

(NAN)