CBN Clears $136.73 Million Verified Forex Payment To Airlines


The Central Bank of Nigeria (CBN), has cleared outstanding foreign exchange claims payment to foreign airlines.

The amount which totaled $136.73 million has finally been made to the airlines, the Bank confirmed.

The Bank on Tuesday, January 30, 2024, said it made an additional $64.44 million to the concerned airlines.

Confirming the figures the Acting Director of Corporate Communications at the CBN, Mrs. Hakama Sidi Ali, noted that the latest amount paid to the airlines brought the total verified amount paid to that sector to $136.73 million.

She added that all the verified airline claims had now been cleared.

According to her, the Governor, Olayemi Cardoso, and his team were doubly committed and would stop at nothing to ensure that the verified backlog of payments across all other sectors was cleared and confidence was restored in the Nigerian foreign exchange market.

Furthermore, she assured that the CBN was working with stakeholders to ensure liquidity improves within the forex market, thereby reducing pressure on the Naira.

While expressing optimism that the market would respond positively with the latest injection of over $64 million, she admonished actors in the foreign exchange market to guard against speculation as such actions could hurt the Naira.

Sidi Ali, therefore, urged the public to support the reforms in the foreign exchange market, adding that the CBN would continue to promote orderliness and professional conduct by all participants in the Nigerian Foreign Exchange Market to ensure market forces determine exchange rates.

Previous Article

Fidelity Bank Boosts Nigeria’s Gas Revenues

Next Article

Drama in court: Lawyer asks Supreme Court to reverse ruling on A’Ibom guber

You may also like

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.