Tag
FX BACKLOG
The International Air Transport Association (IATA) has confirmed that about 98% of airlines trapped funds in the Nigeria has been successfully repatriated by the international carriers.
The Nigerian Naira appreciated significantly against the US dollar throughout March 2024, marking a major turnaround for Nigeria's exchange rate policy.
The Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso has stated that the apex bank has paid another $400 million of valid FX backlog to those who were genuinely identified.
In a significant development with the potential to revitalize Nigeria's economic landscape, the Central Bank of Nigeria (CBN) has taken decisive steps to clear a long-standing backlog of foreign exchange (FX) obligations, some of which date back to as far as March 2023.