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$2.4bn of $7bn FX Claims Not Valid — Cardoso

February 5, 2024 • 1 min read

Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has said about $2.4 billion out of the reported $7 billion outstanding foreign exchange liabilities of the federal government are not valid for settlement, saying the apex bank has settled verified FX requests amounting to $2.3 billion.

He further indicated that part of the headline $7 billion outstanding FX claims were fraudulent, citing the outcome of a forensic audit by Deloitte Management Consultants, which was commissioned by the apex bank.

Cardoso disclosed this during an exclusive interview with Arise Television, monitored by TRIBUNE ONLINE on Monday.