Reprieve came to the financial markets yesterday with the Central Bank of Nigeria (CBN) clearing matured forward foreign exchange (forex) backlogs with a number of banks. Analysts who spoke with Blueprint Newspaper say, this will calm the nervous economy and further reinforce confidence in the financial system. Market makers said, the clearance started since Wesnesday.
It will be recalled that Blueprint Newspaper reported last week of plans by the presidency to ‘corner’ dollar reich’ Nigerians and those with ill-gotten dollar to boost forex supply.
