Nigeria’s central bank said it plans to clear a foreign-exchange backlog estimated at about $5 billion within a short space of time as it seeks to att
Nigeria’s central bank said it plans to clear a foreign-exchange backlog estimated at about $5 billion within a short space of time as it seeks to attract investment back into the economy and reduce pressure on the naira, which hit a fresh low.
The lender “released $500 million to various sectors,” of the economy almost two weeks after paying about $2 billion to settle outstanding commitments across industries including manufacturing, aviation and petroleum, it said in an emailed statement on Monday.
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