President Bola Tinubu has vowed that the Federal Government would honour all future foreign exchange contracts.
Tinubu, on Monday, said this while speaking at the Nigeria Economic Summit in Abuja.
Tinubu stated, “All foreign exchange future contracts will be honoured by this government. I assure you we have a line of sight to the foreign exchange we need to refloat this economy. And we will get it.”
Earlier, the Governor of the Central Bank of Nigeria, Olayemi Cardoso, had disclosed that the apex bank has prioritised clearing the backlog of unsettled foreign exchange obligations, The PUNCH reports September 27.
Cardoso promises to enhance transparency, fix corporate governance, and ensure confidence in the autonomy and integrity of the bank.
“We need to promptly find a way to take care of that. It would be naive for us to expect that we’ll be making too much progress if we’re not able to handle that side of the foreign exchange market,” he said.
Punch
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