CBN
Central Bank of Nigeria (CBN) Governor Yemi Cardoso said the apex bank has discovered $2.4 billion invalid forex outstanding claims pressuring the naira and causing anxiety in the currency market.
According to Cardoso, this was uncovered during an audit by the consultant the CBN hired, which exposed a number of dubious transactions.
The CBN Governor stated that the apex bank commissioned Deloitte to look into the FX allegations to provide a true picture of the situation.
Cardoso said ,according to the Deloitte assessment, up to $2.4 billion of the backlog consists of fictitious claims, with claimants in certain cases being unable to provide import documentation.
“We had had reasons to believe we needed to take a harder look at these obligations. So we contracted Deloitte management consultants to do a forensics of all these obligations and to actually tell us what was valid and what was not,” Mr Cardoso said.
Details shortly…
The Chief of Defence Staff, General Christopher Musa, said he hoped that with the arrest…
Governor Babajide Sanwo-Olu of Lagos has presented the sum of ₦3.005 trillion before the state…
Abia State Commissioner of Police, CP Danladi Isa on Wednesday led an operation along Asaga…
Popular Abia-born journalist and online publisher Ifeanyi Okali has called on the state governor, Dr.…
The Senate, on Thursday, approved the $2.2 billion fresh loan request by President Bola Ahmed…
Mike Ofikwu, an activist and lawyer from Otukpo, was brutally killed by unidentified armed men…