CBN reaffirms commitment to Nigeria’s financial system stability
CBN has offered $876 million to the foreign exchange markets to fulfil bids submitted by customers at an auction concluded on Wednesday.
Ms Hakama Sidi-Ali said the transactions were conducted on Monday and Tuesday to provide liquidity to the FX market.
The CBN unequivocally states that the allegations are false and intended to trigger panic in the financial system.
Over the past few months, the CBN has released various sums to clear the backlog of foreign exchange liabilities.
“CBN will continue to settle the legitimate foreign exchange backlog.’’
“The total trapped fund of foreign airlines in the country is pegged at about $800 million.’’
The CBN assured the general public and depositors of the safety of their funds in the banks.
The Central Bank of Nigeria has warned banks and point of sale (PoS) operators to refrain from disrupting the distribution of naira notes.
