In a bid to address the lingering backlog of foreign exchange payments, the Central Bank of Nigeria (CBN) on Tuesday said it has disbursed $400 million to verified and legitimate applicants.
This move comes amidst efforts to stabilise the foreign exchange market and ensure timely access to FX for businesses and individuals.
The CBN’s audited accounts showed a $7 billion backlog, with an attendant impact on the depreciation of the local unit.
NigeriaDNA is a Direct News source that delivers the latest news, buzz, and stories from some of Nigeria’s most popular and trusted news websites. NigeriaDNA facilitates this by publishing headlines linking to breaking news and curated snippets from a diverse range of Nigerian credible, independent, and public-interest news sources. Our editors make it easy for Nigerians abroad and diaspora to discover top news stories in real-time as they're posted and directly linked to Nigeria's authoritative News Sources.
© 2024 All Rights Reserved | Curated and Powered by Nigeria DNA
