Nigerian central bank says it has cleared some lenders’ FX liabilities

Move comes one week after CBN replaces management of three banks for alleged law-breaking

Central Bank of Nigeria
The Central Bank of Nigeria
Wikimedia/Commons/Godwin Paya

The Central Bank of Nigeria (CBN) has said it has cleared the outstanding foreign exchange liabilities of 14 lenders, Reuters reported on January 17.

A CBN spokeswoman said the central bank had settled the lenders’ matured FX contracts, and now intended to clear the liabilities of airlines. It is not clear how much the banks’ liabilities were worth, or whether the central bank will deal with other sectors’ matured FX contracts.

Last week, the central bank announced it had removed the management of

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