CBN: CURRENT FX OBLIGATION AT $2.2 BILLION

Governor of the Central Bank of Nigeria Olayemi Cardoso, has said about $2.4 billion out of the reported $7 billion outstanding foreign exchange liabilities of the federal government are not valid for settlement.

Cardoso disclosed that the bank had settled verified FX requests, which amounted to $2.3 billion.

He added that current total outstanding FX obligations stood at $2.2 billion.

The CBN governor said he was confident that the outstanding FX liabilities would be addressed shortly adding that CBN would not pay for FX requests that were not validly constituted.