In an exclusive interview with ARISE NEWS, the Governor of the Central Bank of Nigeria (CBN), Dr. Olayemi Cardoso, unveiled crucial policies and reforms aimed at strengthening the nation's economic landscape.
Cardoso addressed the $7 billion outstanding foreign exchange liabilities of the federal government, revealing that $2.4 billion of them were deemed invalid for settlement. He highlighted the results of a forensic audit by Deloitte Management Consultant, identifying fraudulent claims and emphasizing the CBN's commitment to settling valid transactions.
Cardoso also clarified misconceptions about converting domiciliary accounts, emphasizing market liberalization and debunking speculations. Additionally, he discussed the challenges of excessive liquidity injections, explaining the CBN's shift to focus on its primary mandates.
The governor expressed confidence in promptly addressing outstanding FX liabilities, signaling a positive outlook for Nigeria's economic trajectory.
