Auditors discover problematic FX claims at Nigerian central bank

Announcement of $2 billion in suspect claims comes after 60% devaluation of naira

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

The governor of the Central Bank of Nigeria (CBN) has said forensic auditors have discovered false foreign exchange claims worth billions of dollars. 

Olayemi Cardoso’s statement came days after the Nigerian authorities massively devalued the naira’s official exchange rate on January 31. The move cut the naira’s official value against the dollar by approximately 60%, which observers said brought it close to unofficial rates. 

Cardoso said auditors from US-headquartered firm Deloitte had found huge

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