Abuja (Sundiata Post) – The Central Bank of Nigeria (CBN), has started clearing over $10 billion foreign exchange backlogs of commercial banks and airline operators.
According to a statement titled ‘Settlement of Matured FX forwards by CBN,’ by Citibank, and a copy made available to our Correspondent, the bank informed its customers that the CBN has cleared all outstanding matured forex.
The statement read, “Dear Valued Client, We have been directed to inform you that the CBN has delivered all outstanding matured forward forex. We thank you for your patience & cooperation, and value you for your business and partnership.
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Please speak with your Relationship Manager or your Trade Service Professional for clarification and additional details,” Citi bank stated.
However, airlines have started seeing their backlogs being cleared.
Our Correspondent gathered that Stanbic IBTC also alluded to the clearing of the forex backlogs.
“Yesterday, (Wednesday), the apex bank began clearing the backlog of outstanding Retail SMIS obligations. The total amount cleared is yet to be ascertained.” https://sundiatapost.com/court-orders-efcc-cbn-to-transfer-andrew-yakubus-confiscated-funds-to-registrars-account/
The development comes barely 24 hours after the chairman of Air Peace alleged that the Central Bank of Nigeria owes his firm $24 million, six months after lodgment amid the foreign exchange crisis.
Also, last week, the Minister of Finance, Wale Edun, disclosed last week that the country would soon receive an inflow of $10 billion in foreign currency to mitigate the forex crisis.
