A Trusted Nigerian Newspaper
The Central Bank of Nigeria governor, Yemi Cardoso, says that law enforcement agencies are investigating foreign exchange forwards valued at approximately $2.4 billion.
The CBN governor revealed the forensic audit conducted on these transactions uncovered numerous discrepancies and rendered them invalid. “You also had somewhere they had no Naira and they were also allocated, you know, huge sums, the foreign exchange and the list goes on and it was for that reason that we refused to validate those particular transactions.
Addressing concerns about potential backlogs among stakeholders, Cardoso maintained that the market remains open and transparent for them to address any outstanding contractual obligations. Cardoso reiterated the CBN’s commitment to maintaining price stability and fighting inflation.
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.
Blackout hits Abuja, Kogi, as another power station collapses amid sweltering heatA Trusted Nigerian Newspaper
Read more »
Three suspects arrested in connection with killing of 17 Nigerian Army personnel in DeltaA Trusted Nigerian Newspaper
Read more »
Abia State House of Assembly passes bill to stop pension for ex-governors, deputiesA Trusted Nigerian Newspaper
Read more »
Impeachment: Coalition accuses Obaseki, Edo Assembly of rascality, witch-huntA Trusted Nigerian Newspaper
Read more »
Delta gov speaks after meeting with Tinubu over killing of 17 soldiersA Trusted Nigerian Newspaper
Read more »
Lagos govt’s discounted food market more expensive than regular marketsA Trusted Nigerian Newspaper
Read more »