Additionally, the CBN’s net foreign exchange position is reported to be lower than indicated in its financial statement published in August.

Source: https://www.theinfostride.com/fitch-expresses-worry-about-10-billion-forex-loan-but-maintains-nigerias-stable-credit-rating/

Between 2021 and 2022, the CBN’s loans to the government went from N17.5 trillion to N22 trillion which means some N4.5 trillion was added in 2022.

Source: https://businessday.ng/big-read/article/nigerias-yawning-budget-deficit-signals-more-unlawful-cbn-loans/

Gbajabiamila noted that the House would continue to closely monitor the CBN’s implementation of the policy, following the Green Chamber’s meeting with the governor of the CBN, Godwin Emefiele, on the issue.

Source: https://punchng.com/naira-crisis-reps-may-hold-emergency-session-gbajabiamila/

He added that a lot of forex transactions go on through the commercial banks without the CBN’s input.

Source: https://thenationonlineng.net/cbn-to-clear-10b-forex-backlog-in-two-weeks/

Hon. Sulaiman, who has been in the Kano State House of Assembly since 2011, lamented that CBN’s Naira Swap policy have grossly shut down Nigeria’s economy.

Source: https://247ureports.com/2023/02/untold-hardship-kano-lawmaker-mobilizes-for-sack-of-cbn-governor/

However, it was gathered that the FX rate goes as high as N630 within the day, which is the rate at which several businesses buy dollars, but the rate mysteriously ends up at the CBN’s quoted N461 by the end of the trading day.

Source: https://newsday.com.ng/business-leaders-insist-they-get-dollars-at-n630-despite-cbn-denial/?utm_source=rss&utm_medium=rss&utm_campaign=business-leaders-insist-they-get-dollars-at-n630-despite-cbn-denial

“The CBN’s currency redesigning efforts for example was a good policy that was badly managed because it was not properly coordinated.

Source: https://newsdiaryonline.com/economy-labour-urges-fg-to-place-value-on-monetary-fiscal-policies/