(CBN), says $400 million was paid on Tuesday to settle some outstanding foreign
exchange (FX) commitments.
Cardoso disclosed this during a press conference after
heading his first monetary policy committee (MPC) meeting of the apex bank.
“…and I can tell you, just today, we paid out $400 million
to those that have been so identified,” Cardoso said.
The economist said the CBN will only settle identified and
genuine requests, as it is not in the interest of the regulator to hold back
payment from those that have been identified.
“In terms of the
backlog, we are committed in clearing the backlog of identified and genuine
requests that are pending,” he said.
With the settlement made on Tuesday, Cardoso said “we are
committed to doing further to those that are genuinely identified and proven
cases”.
Prior to the recent payment, CBN had disclosed on January
29, 2024, that $500 million had been released to various sectors to address the
backlog of verified FX transactions.
Also, on January 7, CBN said $61.64 million was disbursed to
foreign airlines through various banks.
Meanwhile, on February 5, Cardoso said he inherited a $7
billion FX backlog when he became CBN governor in September 2023, however, it
has dropped to $2.2 billion.
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