There are indications that the Central Bank of Nigeria has
started to clear over $10 billion foreign exchange backlogs of commercial banks
and airline operators.
A source in a Tier-1 Nigerian commercial bank who preferred
anonymity confirmed this to on Thursday.
“Yes, the CBN commenced forex backlog payment to our bank.
yesterday”.
According to the Nairametric report, airlines are seeing
their backlogs being cleared.
It added 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.”
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.
Recall that 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.
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