THE NATION reports that Yemi Cardoso, the governor of the Central Bank, has cleared the $7 billion foreign exchange backlog he inherited from the Central Bank of Nigeria, or CBN. The report went on to say that external reserves increased to $34.11 billion once the backlog was cleared.
Bayo Onanuga, though, has already responded to the report. He stated that Naira will appreciate more now that the FX backlog has been cleared in a message published on his official X handle on Wednesday.
He however, advised currency speculators to dump their stock of dollars to avoid sorrows and tears.
Bayo Onanuga wrote on his official X handle;
“With backlog FX settled, Naira is set to appreciate further faster. Currency speculators should quickly dump their stock of dollars to avoid sorrows and tears”. CONTINUE FULL READING>>>>>
