forex backlog
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Nigeria Naira Strengthens Significantly, Hits N1,382/$ Amid Forex Stability Efforts
The Central Bank of Nigeria's recent interventions have spurred a remarkable recovery for the Naira, with the currency appreciating to N1,382.35/$ at the Nigerian Autonomous Foreign Exchange Market (NAFEM). This surge marks a significant gain from its previous rate of N1,536.83/$, showcasing... -
Nigeria Tensions Rise as Foreign Airlines Challenge CBN's Assertion on Cleared Forex Obligations
Amidst assertions by the Central Bank of Nigeria (CBN) of successfully settling all outstanding foreign exchange (FX) obligations, foreign airlines have challenged the claim, asserting that the situation remains unchanged. Kingsley Nwokeoma, President of the Association of Foreign Airlines and... -
Nigeria Naira Strengthens as CBN Resolves $7 Billion Forex Backlog, Marks 4.6% Appreciation
The naira has witnessed a notable appreciation at both the official and parallel markets following the Central Bank of Nigeria's (CBN) successful clearance of all foreign exchange (FX) backlogs. Data from the FMDQ Securities Exchange indicates that the Naira closed trading at ₦1,410/dollar at... -
Nigeria Airlines' Relief as CBN Clears $64.44M Forex Backlog, Yet Long Road Ahead
The Central Bank of Nigeria (CBN) has fulfilled its promise by disbursing $64.44 million, marking the latest step in addressing the extensive backlog of foreign exchange owed to airlines. This disbursement brings the total verified amount paid to airlines to $136.73 million, constituting a...
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