Nigeria's independent online newspaper
Olayemi Cardoso, governor of the Central Bank of Nigeria , says law enforcement agencies are investigating $2.4 billion unverified foreign exchange claims.
Providing clarification on the unverified claims, the CBN governor highlighted various irregularities, such as the disbursement of large sums of FX for requests that were never submitted and allocations made without the necessary naira backing.Cardoso also stressed the gravity of these irregularities, labelling numerous transactions under investigation as “clearly unlawful”.“We brought in Deloitte management consultants who took time and this really did take months.
“We also had somewhere they had no naira and they were also allocated, you know, huge sums of foreign exchange and the list goes on. It was for that reason that we refused to validate those particular transactions. “Other transactions, we have settled and as of today, as I have said before, I will say it again, that the valid transactions as far as the Central Bank of Nigeria is concerned, have been taken care of.”Speaking further, Cardoso addressed the issue of stakeholders who may not be satisfied with the FX official market.According to Cardoso, all verified claims have been settled, adding that anyone is free to access the market.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
How to stay constantly motivated (3), By Sunday AdelajaPremium Times - Nigeria'bs leading online newspaper, delivering breaking news and deep investigative reports from Nigeria
Read more »
Friday Sermon: Paying zakah, engaging in charity brings blessings, By Murtadha GusauPremium Times - Nigeria'bs leading online newspaper, delivering breaking news and deep investigative reports from Nigeria
Read more »
Tinubu writes Senate, seeks consideration of bill to review salaries, allowances of judicial officersPremium Times - Nigeria'bs leading online newspaper, delivering breaking news and deep investigative reports from Nigeria
Read more »
INEC threatens to bar some CSOs from monitoring future electionsPremium Times - Nigeria'bs leading online newspaper, delivering breaking news and deep investigative reports from Nigeria
Read more »
$6bn Hydropower Project: Court dismisses ex-minister’s rights enforcement suit against EFCCPremium Times - Nigeria'bs leading online newspaper, delivering breaking news and deep investigative reports from Nigeria
Read more »
Moghalu’s proposal on Nigeria’s economic revival, By Ehi BraimahPremium Times - Nigeria'bs leading online newspaper, delivering breaking news and deep investigative reports from Nigeria
Read more »