N448/N450 (updated 20.3.17:noon)
buying/selling naira exchange rates per USD
Tuesday, 20 December 2016

International Monetary Funds (IMF) director-general, Christine Lagarde, was found guilty of negligence in a fraud case that involved handing out a €404m paycheck to businessman Bernard Tapie for the disputed sale of a firm in 2018.

A court in Paris ruled on the judgement but decided not to hand any fine or jail sentence to Lagarde who was represented by her lawyers during the court session on Monday.

Reacting to the development, the IMF boss said she will not appeal the judgement nor say anything much about it.

Her words:
"There's a point in time when one has to just stop, turn the page and move on and continue to work with those who have put their trust in me."
Lagarde paid a visit to Nigeria in January 2016 to convince President Muhammadu Buhari to lower naira exchange rates and to receive loan facilities from the IMF.

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