The Central Bank of Nigeria (CBN), on Monday reiterated its position that about $2.4 billion out of the claimed backlog of $7 billion forex claims were fictitious.
The Deputy Governor, Corporate Services of the CBN, Mohammed Bello, said this while speaking on Monday at the 2024 Law Week event of the Nigerian Bar Association which was held at the NBA National Secretariat, in Abuja.
According to Bello, upon his assumption of office, there were numerous demands for clearance of outstanding forex obligations.
He added that these necessitated a comprehensive audit of the claims received to determine their genuineness or otherwise.
He said: “Following the completion of the audit, we discovered that about $2.4 billion out of the claimed backlog of $7 billion were fictitious. The bank thus took steps to clear the authentic forex backlog that has aided the stabilisation of the Naira.
