THE Central Bank of Nigeria (CBN), in line with its promise to clear the backlog of foreign exchange due to foreign airlines in the country, has completed the payment of all verified claims by airlines, including an additional $64.44 million to the affected airlines.
The CBN’s Acting Director of Corporate Communications, Hakama Sidi Ali, confirmed the information today stating that the latest sum paid to the airlines raised the total verified amount paid to that sector to $136.73 million.
She said that all verifiable airline claims had been resolved.
According to her, Governor Olayemi Cardoso and his staff were doubly committed and would go to any length to clear the verified backlog of payments across all other sectors and restore confidence in Nigeria’s foreign currency market.
Furthermore, she stated that the CBN was working with stakeholders to increase liquidity in the foreign market, lessening pressure on the naira.
While expressing optimism that the market would respond positively to the current infusion of more than $64 million, she cautioned foreign exchange market participants to avoid speculation, as such actions may harm the Naira.
Sidi Ali asked the public to support the foreign exchange market reforms, saying that the CBN will continue to promote discipline and professionalism among all participants in the Nigerian Foreign Exchange Market to ensure that market forces decide exchange prices.
