The Central Bank of Nigeria (CBN) says all valid foreign exchange backlogs have now been settled.
This is according to a statement by CBN’s Acting Director, Corporate Communications, Mrs Hakama Sidi.
According to her, any invalid transactions were promptly referred to the relevant authorities for further scrutiny. The News Agency of Nigeria reports that clearance of the foreign exchange transaction backlog is part of the overall strategy detailed in the last Monetary Policy Committee meeting. The apex bank reported that month-on-month increase was driven by a marked advance in remittance payments by Nigerians overseas.
To tackle the housing gap being faced by tertiary institutions, the Federal Government has kick-started construction of 36 modern hostels nationwide.
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