Business
Breaking: CBN clears all FX backlog as external reserves rise to $34.11bn
The Central Bank of Nigeria (CBN) says it has successfully settled all outstanding foreign exchange (FX) backlog inherited by its current governor, Yemi Cardoso.
CBN’s Acting Director of Corporate Communications, Mrs. Hakama Sidi Ali, disclosed this in a statement on Wednesday evening, March 20, 2024.
She said the CBN engaged Deloitte Consulting, an independent auditing firm, to meticulously assess the transactions, ensuring that only legitimate claims were honoured.
According to her, “Any invalid transactions were referred to the relevant authorities for further investigation.” This development comes just as the external reserves witnessed a significant rise, reaching $34.11 billion as of March 7, 2024, the highest level in eight months.
-
Latest1 week agoLagos NURTW organising secretary Toba Ajiboye dies after gunmen attack
-
Business5 days agoCBN targets $12bn annual Diaspora inflows to boost FX liquidity
-
Business5 days agoSEC launches nationwide campaign to help investors recover unclaimed dividends
-
Business3 days agoNigerian AI researcher champions ethical artificial intelligence at COPA AI 2026 summit in Wales
-
Latest1 week agoOyo APC berates Makinde over call for UN probe into Oriire school rescue
-
Business5 days agoCBN launches real-time FX tracker for BDCs, tightens oversight of FX market
-
Business4 days agoFood prices now biggest threat to inflation, beyond CBN’s reach – Analysts
-
Latest6 days agoKwankwaso calls for renewed North–South-East Political alliance ahead of 2027