CBN clears fresh $400m forex backlog

The Cenbral Bank of Nigeria has released an additional $400 million to clear what it described as ‘identified and genuine request.’ The CBN Governor, Yemi Cardoso, made the disclosure at the end of the Monetary Policy Committee meeting on Tuesday. Four Failed CBN’s Attempts to arrest Naira free fall Oronsaye report: EFCC, ICPC, CCB to […]

The Cenbral Bank of Nigeria has released an additional $400 million to clear what it described as ‘identified and genuine request.’

The CBN Governor, Yemi Cardoso, made the disclosure at the end of the Monetary Policy Committee meeting on Tuesday.

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Cardoso said the bank will continue to identify requests that are genuine and will continue to clear them.

The latest move is coming on the back of the recent interventions that saw the apex bank clear over $2bn.

The governor also recently disclosed that a recent audit by the CBN revealed that over $2.2 billion claims in forex are fraudulent.