CBN Denies Claims of $1.259bn Direct Disbursement to Oil Sector Operators
The Central Bank of Nigeria (CBN) has dismissed allegations that it disbursed $1.259 billion directly to oil sector participants.
According to the CBN, the referenced funds represented market-driven foreign exchange transactions conducted by operators within the Nigerian Foreign Exchange Market.
Media reports suggesting it sold foreign exchange directly to major oil marketers for importing refined petroleum products and associated commodities are "inaccurate and misleading"
A statement released by CBN spokesperson Hakama Ali clarified the matter.
Author's summary: CBN denies $1.259bn disbursement claim.