Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has said about $2.4 billion out of the reported $7 billion outstanding foreign exchange liabilities of the federal government are not valid for settlement, saying the apex bank has settled verified FX requests amounting to $2.3 billion.

He further indicated that part of the headline $7 billion outstanding FX claims were fraudulent, citing the outcome of a forensic audit by Deloitte Management Consultant, which was commissioned by the apex bank.

Cardoso disclosed this during an exclusive interview with Arise Television, which was monitored by TRIBUNE ONLINE on Monday.

The CBN Governor said he was confident that the outstanding FX liabilities would be addressed shortly.

He maintained that CBN would not pay for FX requests that were not validly constituted, adding that the bank has written to authorised dealers to explain the disparities identified.

And sadly, quite frankly, I think much of those have not been disputed to our satisfaction, Cardoso said. (Nigerian Tribune)