Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso yesterday said that the apex bank will soon commence final settlements of the outstanding amount from the $7 billion foreign exchange obligation backlog.
Cardoso at the launch of the new Foreign Exchange, FX Code in Abuja, disclosing that the forensic verification process is now near complete, and final settlements will be processed accordingly.
Noting the high level of unethical and illegal practices discovered during the verification of the FX backlog, Cardoso vowed any bank found to be involved in Foreign Exchange (FX) infractions under the new FX Code would face prompt, swift sanctions.
He added that Board Chairman and management of the bank’s must lead from the…
