The Central Bank of Nigeria (CBN) says it has fulfilled its promise by clearing a $64.44 million backlog of foreign exchange owed to airlines.
This latest disbursement brings the total verified amount paid to airlines to $136.73 million, marking a complete settlement of verified forex claims in the sector. However, this payment is 17% of the $800 million owed to airlines.
In a statement on Tuesday, Hakama Sidi Ali, the CBN’s Acting Director of Corporate Communications, affirmed that Governor Olayemi Cardoso and his team are laser-focused on tackling outstanding obligations across other sectors, leaving no one behind.
She added that the CBN aims for a robust and liquid forex market, further warning participants against manipulative activities that could harm the Naira. Instead, she called for collaborative efforts and adherence to regulations to ensure market forces rightfully determine exchange rates.
