CBN To Clear Remaining FX Backlog In The Next Few Days – Cardoso

The Governor of the Central Bank of Nigeria, Mr. Olayemi Cardoso has stated that the remainder of the bank’s FX backlogs will be cleared in the next few days- most likely in a week and a half.

The bank’s chief stated this during the Foreign Portfolio Investor call organised by the Nigerian Exchange Group (NGX) with the CBN team where the Governor stated that recent reforms were geared towards addressing distortions in the foreign exchange market.

While responding to questions on the current size of the FX backlogs and steps being taken to clear them, the Governor stated that the CBN has cleared its FX backlog in all the banks except five and would do so in the next few days.