The Acting Director of Corporate Communications at the Central Bank of Nigeria CBN, Mrs. Hakama Sidi Ali has announced that the apex bank has reimbursed all airline claims, together with an extra $64.44 million, to the affected airlines.
According to her, the airline industry was paid $136.73 million in foreign exchange. This fulfils CBN's promise to pay off the foreign exchange debt owed to foreign airlines operating in the nation. Every legitimate airline claim has been approved.
She claims that Governor Olayemi Cardoso and his team are
dedicated to settling the verifiable backlog of payments in all industries and
reviving the foreign exchange market in Nigeria. To lessen pressure on
the Naira, they are collaborating with stakeholders to increase liquidity in
the FX market.
To preserve the Naira, the Director of the
Nigerian Foreign Exchange Market (CBN) cautioned against speculating despite
expressing optimism about the market's reaction to the most recent infusion of
over $64 million. To ensure that market forces decide currency rates,
she urged the public to support market reforms and highlighted the CBN's
commitment to fostering orderliness and professional conduct.
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