CBN Denies Disbursing $1.259bn for Petroleum Imports
By Oluwakemi Kindness The Central Bank of Nigeria (CBN) has dismissed reports suggesting it disbursed US$1.259 billion to major oil sector operators for the importation of refined petroleum products and related items, describing the claims as inaccurate and misleading. In a statement on Tuesday night, the Bank clarified that the figure referenced, as published in its Q1 2025 Sectoral Utilisation of Foreign Exchange report does not represent CBN disbursements. The apex bank said Instead, it reflects total foreign exchange transactions […]