CBN Governor Announces Progress in Clearing FX Backlogs in Banks

The Governor of the Central Bank of Nigeria, Olayemi Cardoso, said that most banks have cleared their foreign exchange backlogs, except for five.

During an investor call, Cardoso mentioned that these remaining banks’ FX backlogs would also be resolved soon.

He stated, “We have paid off most banks’ backlogs, leaving only five. We’re confident that in the next few days, these remaining backlogs will be resolved.”

Cardoso added that Nigeria has attracted $2bn in foreign portfolio inflows this year.