By MBAFAN ADE, Abuja –
The Central Bank of Nigeria (CBN) has disbursed 61.64 million dollars to foreign airlines through various Deposit Money Banks (DMBs).
The Acting Director, Corporate Communications, Mrs Hakama Sidi-Ali, disclosed this in a statement issued in Abuja on Sunday.
Mrs. Sidi-Ali said the disbursement is in fulfilment of CBN’s commitment to eliminate the backlog of pending matured foreign exchange in DMBs.
Sidi-Ali said that the initiative was part of the CBN’s efforts to reduce its remaining liability to the airlines.
She said that in the past three months, the CBN had also redeemed outstanding forward liabilities of close to two billion dollars.
“This underscores the CBN ’s commitment to the resolution of pending obligations and a functional foreign exchange market.
“These payments signify CBN’s ongoing efforts to settle all remaining valid forward transactions, with the aim of alleviating the current pressure on the country’s exchange rate.
“It is anticipated that this initiative would provide a considerable boost to the Naira against other major world currencies and further increase investor confidence in the Nigerian economy,” she said.
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