The Governor of the Central Bank of Nigeria, Olayemi Cardoso, says it has cleared all foreign exchange backlogs except for five commercial banks.
Cardoso disclosed this during an investor call facilitated by the Nigerian Exchange Group on Thursday.
He noted that the pending forex backlog will be sorted in the next few days.
“Basically, what we have done with those is that we have paid as much as we can to the point where we have cleared the backlog of all the banks save five. All the banks’ genuine and verifiable backlogs have been cleared, save five.
“We are confident that we will shortly be in a position where the whole issue of forwards would be behind us. In the next few days, we should be in a position where the balance of the five will have been put behind us,” he said.
OsunDailyNG recalls that in an interview with Arise Television last month, the apex bank governor said Nigeria’s outstanding foreign exchange backlog owed across economic sectors has dropped to $2.2 billion.
He added that $2.4 billion of the $7 billion foreign exchange backlog owed to banks, aviation and other entities is invalid.
