Central Bank of Nigeria (CBN) has successfully completed a forensic audit regarding undelivered forward foreign exchange (FX) transactions.
Gatekeepers News reports that the bank, as a result, refunded the value of all unfulfilled and unvalidated transactions to authorized dealer banks in naira.
This information was provided in a letter dated August 4, 2025, from Okey Umeano, the Acting Director of the Financial Markets Department.
The letter confirmed that the audit aimed at addressing the backlog of failed forward FX commitments had been completed.
Furthermore, the CBN stated that all validated transactions have been settled, and the naira equivalent of outstanding and unverified transactions has been returned to the respective banks.
“Following the completion of the audit, the payment of all validated forward transactions has been effected,” the circular stated.
“In addition, the naira value of all unvalidated and unfulfilled forward transactions has been returned to the respective Authorised Dealer Banks.”
The CBN added that with the conclusion of this exercise, the issue of undelivered forward transactions should now be considered resolved.
“Consequently, the matter of undelivered forward transactions is hereby considered concluded and closed,” the letter said.
The bank also acknowledged the cooperation of stakeholders throughout the audit period.
