Sunday, September 14, 2025
Home Business FX BACKLOG: CBN CONCLUDES PAYMENT OF ALL VERIFIED CLAIMS BY AIRLINES 

FX BACKLOG: CBN CONCLUDES PAYMENT OF ALL VERIFIED CLAIMS BY AIRLINES 

The Central Bank of Nigeria (CBN), fulfilling its pledge to clear the backlog of foreign exchange owed foreign airlines in the country, has concluded the payment of all verified claims by airlines with an additional $64.44 million to the concerned airlines.
Confirming the figures on Tuesday, January 30, 2024, the Acting Director of Corporate Communications at the CBN,  Hakama Sidi Ali, noted that the latest amount paid to the airlines brought the total verified amount paid to that sector to $136.73 million. She added that all the verified airline claims had now been cleared.
According to her, the 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.
Furthermore, she assured that the CBN was working with stakeholders to ensure liquidity improves within the forex market, thereby reducing pressure on the Naira.
While expressing optimism that the market would respond positively with the latest injection of over $64 million, she admonished actors in the foreign exchange market to guard against speculation as such actions could hurt the Naira.
Sidi Ali, therefore, 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.
RELATED ARTICLES

BANKING, FINTECH TOP CONSUMER COMPLAINTS IN NIGERIA – FCCPC REPORT. Commission recovers ₦10 billion for aggrieved customers

BANKING, FINTECH TOP CONSUMER COMPLAINTS IN NIGERIA - FCCPC REPORT. Commission recovers ₦10 billion for aggrieved customers   The Federal Competition and Consumer Protection Commission says...

NAICOM, FINTECH ASSOCIATION PARTNER TO DRIVE INSURANCE DIGITALIZATION

  In a move to accelerate the digital transformation of Nigeria’s insurance sector, the National Insurance Commission (NAICOM) has entered into collaboration with the FinTech...

CBN GOVERNOR CARDOSO REAFFIRMS COMMITMENT TO STABILITY, STRONGER BANKS, AND INVESTMENT GROWTH.

 The Governor of the Central Bank of Nigeria (CBN),  Olayemi Cardoso, has restated the Bank’s commitment to sustaining macroeconomic stability, strengthening the banking sector,...

Most Popular

INDIAN BUSINESSMAN, THREE OTHERS ARRESTED OVER N3.9BN TRAMADOL AT LAGOS AIRPORT …AS NDLEA UNCOVERS SKUCHIES FACTORY, NABS COUPLE WITH 19KG DRUGS IN ANAMBRA,...

The National Drug Law Enforcement Agency (NDLEA) has arrested an Indian businessman, Gupta Ravi Kumar, and three Nigerian accomplices over the importation of 2,248,000 pills...

DICAN HONOURS NDLEA BOSS FOR INNOVATIVE FIGHT AGAINST ILLICIT DRUGS.

The Chairman and Chief Executive of National Drug Law Enforcement Agency, (NDLEA) Brigadier General, Mohammed Buba Marwa (rtd) has lay his weight behind the...

BANKING, FINTECH TOP CONSUMER COMPLAINTS IN NIGERIA – FCCPC REPORT. Commission recovers ₦10 billion for aggrieved customers

BANKING, FINTECH TOP CONSUMER COMPLAINTS IN NIGERIA - FCCPC REPORT. Commission recovers ₦10 billion for aggrieved customers   The Federal Competition and Consumer Protection Commission says...

NBRDA SIGNS  MEMORANDUM OF AGREEMENT  WITH SHANGHAI HAIQI INDUSTRIAL COMPANY OF CHINA.

  National Biotechnology Research Development Agency (NBRDA) has signed a Memorandum of Agreement (MoA) with Shanghai Haiqi Industrial Company of China to establish Nigeria’s first...

Recent Comments