Governor of the Central Bank of Nigeria (CBN), Mr. 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.
Speaking in an exclusive interview with Arise Television, Cardoso disclosed that the bank had settled verified FX requests, which amounted to $2.3 billion. He added that current total outstanding FX obligations stood at $2.2 billion.Cardoso further indicated that part of the headline $7 billion outstanding FX claims were fraudulent, citing the outcome of a forensic…