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…
Former Vice President Atiku Abubakar took to social media to announce his meeting with the…
Super Eagles head coach, Finidi George has demanded total commitment from his players as they…
The Independent National Electoral Commission (INEC) has announced that it will start the Continuous Voter…
The identity of Super Eagles head coach, Finidi George’s foreign assistants is now known. Finidi,…
President Bola Tinubu on Monday sworn in two additional federal commissioners of the National Population…
The Federal Government is to embark on a comprehensive review, restructuring and reform of the…