Eko Hot Blog reports that the Central Bank of Nigeria (CBN) has cleared the $7 billion foreign exchange (FX) backlog which was pending when Yemi Cardoso took over as the Governor of the apex bank.
This development was announced in a statement on Wednesday by the CBN Acting Director of Corporate Communications, Hakama Sidi Ali.
Editor’s Picks
-
‘Drowning Wannabe Politrickster’ – NLC Slams Abure, Asserts Ownership Over LP
-
‘I’m Fit, Healthy’ – Taye Currency Denies Collapsing In UK
-
Luton Striker Elijah Adebayo Expresses Desire To Play For Nigeria
According to her, all valid claims have been settled and only those claims found to be illegitimate were not honoured.
Ali explained that the CBN employed the services of an independent auditing firm, Deloitte Consulting, to meticulously evaluate all claims and any invalid transaction have been referred to appropriate authorities for further checks.
“Any invalid transactions were referred to the relevant authorities for further investigation,” she stated.
Nigeria’s Foreign Reserve Hits $34.11 Billion, Highest In 8 Months
Meanwhile, Nigeria’s foreign reserves have recorded an increase of 2.83%, jumping to $34.11 billion as of March 7, 2024, from $33.17 billion at the beginning of the year.
The figure, which is based on the latest data released by the Central Bank of Nigeria (CBN), is the highest in eight months.
The most recent data from the Central Bank of Nigeria (CBN) shows a significant increase in external reserves, rising by $993 million in just one month and reaching the highest level in eight months.
On March 7, 2024, the external reserves totalled $34,110,027,381, which is higher than the previous month’s amount of $33,116,051,881 reported on February 8, 2024.
The data shows that the reserves have been staying pretty consistent at around $32 to $33 billion for the past eight months. The latest record on March 7 is the highest it’s been since June 30, 2023, when the reserves hit $34,119,447,986.
Click To Watch Our Video Of The Week
Advertise or Publish a Story on EkoHot Blog:
Kindly contact us at [email protected]. Breaking stories should be sent to the above email and substantiated with pictorial evidence.
Citizen journalists will receive a token as data incentive.
Call or Whatsapp: 0803 561 7233, 0703 414 5611
