CBN Clears All Legitimate Foreign Exchange Backlogs, As External Reserves Rise to $34.11 Billion

The Central Bank of Nigeria has successfully resolved all outstanding foreign exchange obligations while the country’s external reserves have increased to a significant $34.11 billion.

In a Wednesday statement, Mrs. Hakama Sidi Ali, the Acting Director of Corporate Communications at CBN, confirmed that all legitimate claims for FX backlog have been resolved.

This action not only upholds a crucial promise made upon his appointment but also marks a meaningful progression in rebuilding trust in the economy.

“Any invalid transactions were referred to the relevant authorities for further investigation,

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