JUST IN: CBN Commences “Clearing” Of Forex Backlogs

Central Bank of Nigeria has “cleared” forex backlogs of banks and airlines.

Gatekeepers News reports that sources who spoke to Nairametrics said banks are claiming backlogs are being cleared by the central bank.

The sources also indicate airlines are also seeing their backlogs being cleared.

Nevertheless, it is unclear where the source of the supply used to clear the backlog is coming from.

The federal government had announced plans to clear forex backlogs with the injection of $10 billion.

A report from Stanbic IBTC also alluded to the clearing of the forex backlogs.

Stanbic IBTC said, “Yesterday, the apex bank began clearing the backlog of outstanding Retail SMIS obligations. The total amount cleared is yet to be ascertained.”

This is a developing story…