BREAKING NEWS: CBN Gov Cardoso insists all FX backlogs cleared

CBN Gov Cardoso insists all FX backlogs cleared

CBN Gov Cardoso insists all backlogs cleared


The Governor of the Central Bank of , CBN, , says those claiming the foreign exchange backlog has not been cleared should approach the open market to verify the situation.

The insisted that all valid had been cleared.

Cardoso spoke Tuesday while briefing journalists at the end of the 294th in Abuja.

He stressed that the apex bank had settled all valid backlogs amid the continued appreciation of Naira against the dollar at the forex market.

“As long as the is concerned, all valid foreign exchange backlogs have been taken care of.

“We are also not mindful of the fact that there may be some stakeholders who might have a backlog of FX in one form or the other.

“We have done what we can to make the market as open, transparent and liquid as possible. So those particular stakeholders can access the market and take care of their backlog. However, we have met the verified backlogs of contractual obligations,” he said.

On March 20, , CBN announced that it had cleared the pending $7 billion forex backlog.

However, the President of the Association of Foreign Airlines and Representatives in Nigeria, AFARN, Kingsley Nwokoma, faulted the claim.


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