THE Governor of the Central Bank of Nigeria (CBN) says it has uncovered invalid foreign overdue claims totalling $2.4 billion, which have pressured the naira for long and spooked the currency market.
Mr Cardoso said on Monday that the discovery was made after an audit by the consultant that the apex bank engaged brought several shady deals to light.
The CBN hired Deloitte to investigate the forex claims to get a true picture of things, Mr Cardoso said during an interview with local TV Arise, broadcast Monday morning.
The Deloitte report found that as much as $2.4 billion of the said backlog are false claims, with claimers unable to present import documents in some instances, he said.
The national currency, the Naira, has been under immense pressure in recent months leading to a huge decline in its value against other international currencies.
Eighteen-Eleven Media