Central Bank of Nigeria Governor, Olayemi Cardoso, says Nigeria’s outstanding foreign exchange backlog owed across economic sectors has dropped to $2.2 billion.
Cardoso disclosed this during a recent interview on Arise Television.
He said the apex bank had cleared $2.3 billion out of the valid $4.5 billion FX backlog with just $2.2 billion outstanding.
According to him, the banker’s bank plans to clear its outstanding backlog soon.
“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.
OsunDailyNG reports that Cardoso said $2.3 billion of $7 billion forex claims are not valid.
Meanwhile, in December last year, the International Air Transport Association threatened to expel Nigeria over the $790 million trapped fund.
OsunDailyNG recalls that Naira appreciated marginally to close last Friday at N1,435.53 per Dollar after a turbulent week.
