By NewsBits
News reaching us has it that the Central Bank of Nigeria (CBN) has settled of all verified claims by airlines with an additional payment of$64.44 million to the affected airlines. This is in fulfillment of CBN’s pledge to clear the backlog of foreign exchange owed foreign airlines in the country.
CBN’s Acting Director of Corporate Communications, Hakama Sidi Ali, confirmed the settlement of the outstanding claims on Tuesday, January 30, 2024, noting that the verified claims so far paid to airlines in the sector amounts to $136.73 million adding that all the verified airline claims had now been cleared.
“The CBN Governor, Olayemi Cardoso, and his team were doubly committed and would stop at nothing to ensure that the verified backlog of payments across all other sectors was cleared, and confidence was restored in the Nigerian foreign exchange market.” Ali said, adding that the CBN was working with stakeholders to ensure that liquidity improves within the forex market to reducing pressure on the Naira.
Ali expressing optimism that the market would respond positively with the latest injection of over $64 million, while calling on players in the foreign exchange market to guard against speculation as such actions could also hurt the Naira.
She further urged the public to support the reforms in the foreign exchange market, adding that the CBN would continue to promote orderliness and professional conduct by all participants in the Nigerian Foreign Exchange Market to ensure market forces determine exchange rates.
