{"id":1835953,"date":"2023-11-02T14:07:48","date_gmt":"2023-11-02T13:07:48","guid":{"rendered":"https:\/\/advocate.ng\/?p=1835953"},"modified":"2023-11-02T14:07:48","modified_gmt":"2023-11-02T13:07:48","slug":"cbn-starts-to-resolve-10bn-forex-demand-backlog","status":"publish","type":"post","link":"https:\/\/advocate.ng\/cbn-starts-to-resolve-10bn-forex-demand-backlog\/","title":{"rendered":"CBN starts to resolve $10bn forex demand backlog"},"content":{"rendered":"<p style=\"color: #252525;\">The Central Bank of Nigeria (CBN) has begun to address the huge backlog of foreign exchange (forex) requests from commercial banks and airline operators, according to sources.<\/p>\n<p style=\"color: #252525;\">A source from a leading Nigerian commercial bank, who spoke on condition of anonymity, confirmed this on Thursday.<\/p>\n<p style=\"color: #252525;\">He said, \u201cThe CBN started paying our bank\u2019s forex backlog yesterday\u201d.<\/p>\n<p style=\"color: #252525;\">A report by Nairametrics also stated that airlines are receiving their forex payments from the CBN.<\/p>\n<p style=\"color: #252525;\">The report quoted Stanbic IBTC as saying, \u201cThe CBN started clearing the outstanding retail SMIS obligations yesterday (Wednesday). The total amount cleared is still unknown.\u201d<\/p>\n<p style=\"color: #252525;\">This development comes a day after the chairman of Air Peace claimed that his company is owed $24 million by the CBN, six months after making the forex request amid the forex crisis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Central Bank of Nigeria (CBN) has begun to address the huge backlog of foreign exchange (forex) requests from commercial banks and airline operators, according to sources. A source from a leading Nigerian commercial bank, who spoke on condition of anonymity, confirmed this on Thursday. He said, \u201cThe CBN started paying our bank\u2019s forex backlog &hellip;<\/p>\n","protected":false},"author":9,"featured_media":1832840,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[19134,18862,460,12706,7751,13048,18754],"_links":{"self":[{"href":"https:\/\/advocate.ng\/wp-json\/wp\/v2\/posts\/1835953"}],"collection":[{"href":"https:\/\/advocate.ng\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/advocate.ng\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/advocate.ng\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/advocate.ng\/wp-json\/wp\/v2\/comments?post=1835953"}],"version-history":[{"count":1,"href":"https:\/\/advocate.ng\/wp-json\/wp\/v2\/posts\/1835953\/revisions"}],"predecessor-version":[{"id":1835954,"href":"https:\/\/advocate.ng\/wp-json\/wp\/v2\/posts\/1835953\/revisions\/1835954"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/advocate.ng\/wp-json\/wp\/v2\/media\/1832840"}],"wp:attachment":[{"href":"https:\/\/advocate.ng\/wp-json\/wp\/v2\/media?parent=1835953"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/advocate.ng\/wp-json\/wp\/v2\/categories?post=1835953"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/advocate.ng\/wp-json\/wp\/v2\/tags?post=1835953"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}