₦airaland Forum

Welcome, Guest: RegisterLoginWith GoogleTrendingRecentNew

Stats: 3,326,496 members, 8,426,814 topics. Date: Sunday, 14 June 2026 at 11:19 PM

Toggle theme

BREAKING: CBN Settles All FX Backlog As External Reserves Rise To $34.11bn - Politics - Nairaland

Nairaland ForumNairaland GeneralPoliticsBREAKING: CBN Settles All FX Backlog As External Reserves Rise To $34.11bn (2146 Views)

1 2 (Go Down)

BREAKING: CBN Settles All FX Backlog As External Reserves Rise To $34.11bn by FreeStuffsNG(op):
CBN settles all FX backlog as external reserves rise to $34.11bn

Nduka Chiejina, Abuja
March 20, 2024

The Central Bank of Nigeria (CBN) has cleared the $7 billion foreign exchange (FX) backlog inherited by Governor Yemi Cardoso.
This move fulfills a key pledge on his appointment and signifies a significant step towards restoring confidence in the economy.


In a statement on Wednesday, CBN’s Acting Director of Corporate Communications, Mrs. Hakama Sidi Ali, confirmed settlement of all valid FX backlog claims.

The CBN, she said, employed Deloitte Consulting, an independent auditing firm, to meticulously assess the transactions, ensuring that only legitimate claims were honoured.

“Any invalid transactions were referred to the relevant authorities for further investigation,” she stated.

The CBN’s commitment to tackling the FX backlog appears to be paying off.

External reserves have seen a significant rise, reaching $34.11 billion as of March 7, 2024, the highest level in eight months


This month-on-month increase is attributed to a notable rise in remittance payments from Nigerians abroad and increased foreign investment in local assets, including government debt securities.

The CBN’s actions are part of a broader strategy outlined during the last Monetary Policy Committee (MPC) meeting.

https://thenationonlineng.net/breaking-cbn-setles-all-fx-backlog-as-external-reserves-rise-to-34-11bn/
Mynd44 nlfpmod

Re: BREAKING: CBN Settles All FX Backlog As External Reserves Rise To $34.11bn by FreeStuffsNG(op): 10:08pm On Mar 20, 2024
The CBN’s commitment to tackling the FX backlog appears to be paying off.
CBN settles all FX backlog as external reserves rise to $34.11bn

We have done it again and proven the naysayers and unpatriotic elements wrong!

May God bless Nigeria for ever! Check my signature for free stuffs!
Re: BREAKING: CBN Settles All FX Backlog As External Reserves Rise To $34.11bn by Feintline: 10:09pm On Mar 20, 2024
Oga leave all these noise from tinubu propaganda noise making newspaper.
All these noise does not reduce the price of fuel, garri, rice, neither does it improve the standard of hell living Nigeria has been thrown into.

You do this , you do that. What has it done to pull us out from the great tinubulation that is hitting the nation?
Anything you claim to be doing or have done that does not reflect on the economy and cost of goods and service is as useless as the 'P' in the word Psychology.

Return the dollar to were you found it. Forget about the 216 or 300 to a dollar noise. Return it back to where you found it on may 29
Re: BREAKING: CBN Settles All FX Backlog As External Reserves Rise To $34.11bn by Artscollection: 10:10pm On Mar 20, 2024
The nation!!
Re: BREAKING: CBN Settles All FX Backlog As External Reserves Rise To $34.11bn by forgiveness: 10:15pm On Mar 20, 2024
How many times this topic go open?
Re: BREAKING: CBN Settles All FX Backlog As External Reserves Rise To $34.11bn by helinues: 10:20pm On Mar 20, 2024
forgiveness:
How many times this topic go open?
Do you have issue with development news?
Re: BREAKING: CBN Settles All FX Backlog As External Reserves Rise To $34.11bn by Ofunaofu: 10:26pm On Mar 20, 2024
helinues:
Do you have issue with development news?
Chai! helinus

CBN clears FX backlog; it becomes development news.

Why was there a backlog, and who created it?
Re: BREAKING: CBN Settles All FX Backlog As External Reserves Rise To $34.11bn by Roboto11: 10:27pm On Mar 20, 2024
Feintline:
Oga leave all these noise from tinubu propaganda noise making newspaper.
All these noise does not reduce the price of fuel, garri, rice, neither does it improve the standard of hell living Nigeria has been thrown into.

You do this , you do that. What has it done to pull us out from the great tinubulation that is hitting the nation?
Anything you claim to be doing or have done that does not reflect on the economy and cost of goods and service is as useless as the 'P' in the word Psychology.

Return the dollar to were you found it. Forget about the 216 or 300 to a dollar noise. Return it back to where you found it on may 29
If you like, don't secure your future.

Continue screaming return the dollar.
Re: BREAKING: CBN Settles All FX Backlog As External Reserves Rise To $34.11bn by forgiveness: 10:27pm On Mar 20, 2024
helinues:
Do you have issue with development news?
What is issue with development news? The issue is creating multiple topics.
Re: BREAKING: CBN Settles All FX Backlog As External Reserves Rise To $34.11bn by helinues: 10:27pm On Mar 20, 2024
Ofunaofu:
Chai! helinus

CBN clears FX backlog; it becomes development news.

Why was there a backlog, and who created it?
Opposition is not madness. If the Fg had squandered the money meant for the repayment, would they have paid the money?
Re: BREAKING: CBN Settles All FX Backlog As External Reserves Rise To $34.11bn by victorDanladi: 10:28pm On Mar 20, 2024

Re: BREAKING: CBN Settles All FX Backlog As External Reserves Rise To $34.11bn by naija4life247: 10:28pm On Mar 20, 2024
Emefielelele will not die well. Na Ogun go kee all the people wey dey support am and their Mama
Re: BREAKING: CBN Settles All FX Backlog As External Reserves Rise To $34.11bn by helinues: 10:28pm On Mar 20, 2024
forgiveness:
What is issue with development news? The issue is creating multiple topics.
Comment on the one that interest you and Waka.

Don't be a nagging guy
Re: BREAKING: CBN Settles All FX Backlog As External Reserves Rise To $34.11bn by victorDanladi: 10:28pm On Mar 20, 2024
Feintline:
Oga leave all these noise from tinubu propaganda noise making newspaper.
All these noise does not reduce the price of fuel, garri, rice, neither does it improve the standard of hell living Nigeria has been thrown into.

You do this , you do that. What has it done to pull us out from the great tinubulation that is hitting the nation?
Anything you claim to be doing or have done that does not reflect on the economy and cost of goods and service is as useless as the 'P' in the word Psychology.

Return the dollar to were you found it. Forget about the 216 or 300 to a dollar noise. Return it back to where you found it on may 29
https://www.vanguardngr.com/2024/03/breaking-cbn-clears-all-fx-backlog-as-external-reserves-rise-to-34-11bn/

https://punchng.com/breaking-cbn-clears-7bn-forex-backlogs/

Re: BREAKING: CBN Settles All FX Backlog As External Reserves Rise To $34.11bn by Paraman: 10:29pm On Mar 20, 2024
FreeStuffsNG:
CBN settles all FX backlog as external reserves rise to $34.11bn



External reserves have seen a significant rise, reaching $34.11 billion as of March 7, 2024, the highest level in eight months


This month-on-month increase is attributed to a notable rise in remittance payments from Nigerians abroad and increased foreign investment in local assets, including government debt securities.


https://thenationonlineng.net/breaking-cbn-setles-all-fx-backlog-as-external-reserves-rise-to-34-11bn/
Mynd44 nlfpmod
$ will be sold for #3000 before the end of march in the mud.
Re: BREAKING: CBN Settles All FX Backlog As External Reserves Rise To $34.11bn by naija4life247: 10:29pm On Mar 20, 2024
FreeStuffsNG:
The CBN’s commitment to tackling the FX backlog appears to be paying off.
CBN settles all FX backlog as external reserves rise to $34.11bn

We have done it again and proven the naysayers and unpatriotic elements wrong!

May God bless Nigeria for ever! Check my signature for free stuffs!
The naysayers will die miserably. They will not eat out of the good of the land, so says the Bible

Re: BREAKING: CBN Settles All FX Backlog As External Reserves Rise To $34.11bn by Ofunaofu: 10:29pm On Mar 20, 2024
helinues:
Opposition is not madness. If the Fg had squandered the money meant for the repayment, would they have paid the money?
Why was there a backlog, who created the it?
Re: BREAKING: CBN Settles All FX Backlog As External Reserves Rise To $34.11bn by forgiveness: 10:30pm On Mar 20, 2024
helinues:
Comment on the one that interest you and Waka.

Don't be a nagging guy
What stops you from nagging and waka passing? See me see trouble oooo grin
Re: BREAKING: CBN Settles All FX Backlog As External Reserves Rise To $34.11bn by seunmsg(m): 10:31pm On Mar 20, 2024
Better days are coming.
Re: BREAKING: CBN Settles All FX Backlog As External Reserves Rise To $34.11bn by helinues: 10:31pm On Mar 20, 2024
Ofunaofu:
Why was there a backlog, who created the it?
Don't you have official email of the CBN to ask that question?
Re: BREAKING: CBN Settles All FX Backlog As External Reserves Rise To $34.11bn by Ofunaofu: 10:31pm On Mar 20, 2024
naija4life247:
Emefielelele will not die well. Na Ogun go kee all the people wey dey support am and their Mama
You can't compare Emefiele with this patch patch CV CBN governor.

Emefiele is Miles ahead
Re: BREAKING: CBN Settles All FX Backlog As External Reserves Rise To $34.11bn by helinues: 10:32pm On Mar 20, 2024
forgiveness:
What stops you from nagging and waka passing? See me see trouble oooo grin
You are the one who is nagging on development news.

Carry that nagging away from here. This thread is for Nigerian Patriots not Parrots
Re: BREAKING: CBN Settles All FX Backlog As External Reserves Rise To $34.11bn by DeLaRue: 10:33pm On Mar 20, 2024
Excellent!

The Cbn governor is proving his mettle.

Every policy that he introduced that all the publicity-hungry 'experts' on Arise TV said would never work are slowly but surely working.
Re: BREAKING: CBN Settles All FX Backlog As External Reserves Rise To $34.11bn by Paraman: 10:34pm On Mar 20, 2024
Feintline:
Oga leave all these noise from tinubu propaganda noise making newspaper.
All these noise does not reduce the price of fuel, garri, rice, neither does it improve the standard of hell living Nigeria has been thrown into.

You do this , you do that. What has it done to pull us out from the great tinubulation that is hitting the nation?
Anything you claim to be doing or have done that does not reflect on the economy and cost of goods and service is as useless as the 'P' in the word Psychology.

Return the dollar to were you found it. Forget about the 216 or 300 to a dollar noise. Return it back to where you found it on may 29
You will shalaye for the next 500 years
Re: BREAKING: CBN Settles All FX Backlog As External Reserves Rise To $34.11bn by Ofunaofu: 10:34pm On Mar 20, 2024
helinues:
Don't you have official email of the CBN to ask that question?
So you don't know why but jumped into the news, describing it as a development news

helinus, please try to be reasonable
Re: BREAKING: CBN Settles All FX Backlog As External Reserves Rise To $34.11bn by helinues: 10:34pm On Mar 20, 2024
Feintline:
Oga leave all these noise from tinubu propaganda noise making newspaper.
All these noise does not reduce the price of fuel, garri, rice, neither does it improve the standard of hell living Nigeria has been thrown into.

You do this , you do that. What has it done to pull us out from the great tinubulation that is hitting the nation?
Anything you claim to be doing or have done that does not reflect on the economy and cost of goods and service is as useless as the 'P' in the word Psychology.

Return the dollar to were you found it. Forget about the 216 or 300 to a dollar noise. Return it back to where you found it on may 29
You go shalaye tired

Re: BREAKING: CBN Settles All FX Backlog As External Reserves Rise To $34.11bn by helinues: 10:36pm On Mar 20, 2024
Ofunaofu:
So you don't know why but jumped into the news, describing it as a development news

helinus, please try to be reasonable
The new appointed CBN by this government cleared the logs while Emefiele that was appointed by GEJ couldn't.

Are you happy now Mr Reasonable
Re: BREAKING: CBN Settles All FX Backlog As External Reserves Rise To $34.11bn by forgiveness: 10:38pm On Mar 20, 2024
helinues:
You are the one who is nagging on development news.

Carry that nagging away from here. This thread is for Nigerian Patriots not Parrots
Patriots!!!! Pele n ti re. Developmental news is a welcome development but striving for your thread to be on front page when we already commented on one.
Re: BREAKING: CBN Settles All FX Backlog As External Reserves Rise To $34.11bn by tommy589(m): 10:39pm On Mar 20, 2024
Credit rating is getting a boost
Re: BREAKING: CBN Settles All FX Backlog As External Reserves Rise To $34.11bn by Putindbutt(m): 10:41pm On Mar 20, 2024
Wonderful. Emefiele and his bald head must grow old inside kuje
Re: BREAKING: CBN Settles All FX Backlog As External Reserves Rise To $34.11bn by Putindbutt(m): 10:42pm On Mar 20, 2024
Ofunaofu:
Chai! helinus

CBN clears FX backlog; it becomes development news.

Why was there a backlog, and who created it?
It is not newsworthy abi? But when foreign airlines were shutting down operations in the country because of backlogs, una dey wail everywhere. No be the same Emefiele una dey buttlick create the problems.

1 2

Net Reserves Jump 772% To $34.8 Billion In Two YearsNaira Stable As External Reserves Hit $40.15 Billion, Highest In Eight MonthsNigeria’s FX Reserves Rise By $621.2 Million In 10 Days234

Nigeria’s Problem Did Not Start With Tinubu’s Government - Akume“Nigeria, Wassup?” "We Go Soon Fall In - Says US SoldierStates, LGs Repay ₦547.5 billion Bank Debts