... Doles out additional $64.44m
In fulfillment of its earlier pledge to clear the backlog of foreign exchange owed foreign airlines in the country, the Central Bank of Nigeria (CBN) has settled payment of all verified claims by airlines with an additional $64.44 million to the concerned airlines, reports ITREALMS.
In a press statement available to ITREALMS, the Acting Director of Corporate Communications at the CBN, Mrs. Hakama Sidi Ali, confirmed that the latest amount paid to the airlines brought the total verified amount paid to that sector to $136.73 million.
She noted 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 were cleared, and confidence restored in the Nigerian foreign exchange market.
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.
Chuks Egbune/Editor
She noted 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 were cleared, and confidence restored in the Nigerian foreign exchange market.
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.
Chuks Egbune/Editor
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