Business
CBN Clears All Outstanding FX Backlog, As Nigeria’s External Reserves Jump to $34.11bn
CBN clears all outstanding fx backlog as Nigeria’s external reserves rises to $34.11 billion.
CBN clears all outstanding fx backlog as Nigeria’s external reserves rises to $34.11 billion.
The Central Bank of Nigeria has successfully resolved all outstanding foreign exchange obligations while the country’s external reserves have increased to a significant $34.11 billion.
VerseNews reports that this was confirmed in a statement on Wednesday by Mrs. Hakama Sidi Ali, the Acting Director of Corporate Communications at CBN.
She confirmed that all legitimate claims for FX backlog have been resolved.
According to the CBN, it employed Deloitte Consulting, an independent auditing firm, to meticulously assess the transactions, ensuring that only legitimate claims were honoured.
“Any invalid transactions were referred to the relevant authorities for further investigation,” it said.
The CBN’s actions are part of a broader strategy outlined during the last Monetary Policy Committee (MPC) meeting.
Enugu Govt Shuts Down Bet9ja Operations in the State
The Enugu State Government has sealed the offices and outlets of Bet9ja operator, KC Gaming Networks...
BREAKING: US Sends 200 Troops to Nigeria to Boost Fight Against Islamist Militants
The United States has deployed about 200 troops to Nigeria to train local forces and strengthen counterterrorism efforts, officials say.
BREAKING: CBN Allows BDCs Back into FX Market, Sets $150,000 Weekly Purchase Limit
The Central Bank of Nigeria has approved the participation of licensed Bureau De Change operators in the foreign exchange market.
IPOB Fires Back at Soludo Over Closure of Onitsha Main Market Shops
IPOB has criticised the Anambra State Government over the sealing of shops at Onitsha Main Market, describing the action as...
BREAKING: Senate Amends Electoral Bill To Allow E-Transmission Of Results With Conditions
The Senate has rescinded its earlier decision and re-amended the Electoral Act (Amendment) Bill to permit electronic transmission of election...
U.S. to Deport Businessman Invictus Obi, 17 Other Nigerians Among ‘Worst of the Worst’ Criminals
The United States Department of Homeland Security has added 18 Nigerians to its “worst-of-the-worst” criminal deportation list.
Nigeria Ranked 36th Most Corrupt Country In The World, See Full List
Nigeria has been ranked 36th most corrupt country in the world in Transparency International’s 2025 Corruption Perceptions Index.
IPOB Allies Step Up US Lobbying Efforts Over Nnamdi Kanu’s Detention
IPOB supporters say advocacy efforts in Washington, involving US-based allies, are quietly gaining momentum as they lobby lawmakers over Nnamdi...
BREAKING: Nnamdi Kanu Orders Permanent Cancellation of Monday Sit-at-Home in South-East
IPOB says Mazi Nnamdi Kanu has ordered the permanent cancellation of Monday sit-at-home across the South-East.
BREAKING: US Lawmaker Confirms Plan to Divide Nigeria, Gives Fresh Details
Confirming that he was recently in Nigeria, United States lawmaker, Senator Riley Moore said he held several high-level meetings with...
You must be logged in to post a comment Login