The Presidency has warned forex speculators that the Naira
will soon appreciate.
President Bola Tinubu’s Special Adviser on Information and
Strategy, Bayo Onanuga, urged speculators to quickly dump their dollars to
avoid “tears”.
Onanuga was reacting to the Central Bank of Nigeria, CBN,
disclosure that it had cleared the $7 billion foreign exchange backlog inherited
by Governor Yemi Cardoso.
In a statement on Wednesday, CBN’s Acting Director of
Corporate Communications, Mrs Hakama Sidi Ali, confirmed the settlement of all
valid FX backlog claims.
Ali said the apex bank 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,” she stated.
The CBN’s commitment to tackling the FX backlog appears to
be paying off, with the external reserves seeing a significant rise, reaching
$34.11 billion as of March 7, 2024, the highest level in eight months
Reacting, Onanuga posted on X, “With backlog FX settled,
Naira is set to appreciate further, faster. Currency speculators should quickly
dump their stock of dollars to avoid sorrows and tears.”
Advertise on NigerianEye.com to reach thousands of our daily users
No comments
Post a Comment
Kindly drop a comment below.
(Comments are moderated. Clean comments will be approved immediately)
Advert Enquires - Reach out to us at NigerianEye@gmail.com