According to Olayemi Cardoso, the governor of the Central Bank of Nigeria, Nigeria’s outstanding foreign exchange backlog across all economic sectors has decreased to $2.2 billion.
This was revealed by Cardoso in a recent Arise Television interview.
He stated that only $2.2 billion remained after the top bank cleared $2.3 billion of the legitimate $4.5 billion FX backlog.
He claims that the banker’s bank intends to quickly pay off its outstanding debt.
“And now what remains is about $2.2 billion to be settled, and I am confident that we will shortly be addressing those and be able to move on and make progress.
“Yes, as I said, I think that would be what would be done very shortly. Now, you can imagine that $2.2 billion outstanding and $7 billion outstanding are not the same”, he said.
Cardoso reportedly stated that $2.3 billion of the $7 billion in FX claims are illegitimate.
The International Air Transport Association, however, threatened to ban Nigeria in December of last year due to the $790 million trapped fund.
Remembers that following a volatile week, the Naira slightly increased to conclude last Friday at N1,435.53 per US dollar.
