Central Bank of Nigeria, on Tuesday, announced the release of an additional $400 million to clear forex backlog it described as “identified and genuine request.”
CBN Governor, Yemi Cardoso, announced this at the end of the Monetary Policy Committee meeting on Tuesday.
Cardoso assured that the bank will continue to identify requests that are genuine and will continue to clear them.
The latest move followed the recent interventions that saw the apex bank clearing over $2bn.
The apex bank governor also recently disclosed that a recent audit by the CBN revealed that over $2.2 billion claims in forex are fraudulent.