Payment Of All Verified FX Claims By Airlines Concluded – CBN Says
The Central Bank of Nigeria (CBN) on Tuesday, January 30, 2024 said that it had fulfilled its pledge to clear all the backlog of foreign exchange owed foreign airlines in the country.
It also said it carried out the payment after verifying all the claims with an additional $64.44 million to the concerned airlines.
Hakama Sidi-Ali, Director of Corporate Communications of the apex bank who confirmed the payment of the figures,said that the latest amount paid to the airlines brought the total verified amount so far paid to that sector to $136.73 million.
According to Sidi-Ali, all the verified airline claims had now been cleared, adding that the Governor of the CBN, Olayemi Cardoso, and his team were committed and would stop at nothing to ensure that all verified backlog of payments across all other sectors are cleared.
She explained that the development would ensure the restoration of confidence in the Nigerian foreign exchange market.
Sidi-Ali assured the public that the CBN was working with stakeholders to ensure liquidity improved within the forex market, thereby reducing pressure on the Naira.
In her words; “The market would respond positively with the latest injection of over $64 million. Actors in the foreign exchange market are advised to guard against speculation as such could hurt the Naira”.
Sidi-Ali therefore, urged members of the public to support the reforms in the foreign exchange market, assuring that the CBN would continue to promote orderliness and professional conduct by all participants in the Nigerian Foreign Exchange Market to ensure that market forces determine exchange rates.
