Reports have indicated that the central bank has “cleared” forex backlogs of banks and airlines.

According to Nairametrics, sources indicated that airlines are also seeing their backlogs being cleared.

“Yesterday, the apex bank began clearing the backlog of outstanding Retail SMIS obligations. The total amount cleared is yet to be ascertained,” the source stated.

It was noted that the origin of the supply responsible for addressing the backlog remains uncertain.

Nonetheless, the government had previously disclosed its intentions to eliminate forex backlogs by infusing $10 billion into the system.

Also a report from Stanbic IBTC also alluded to the clearing of the forex backlogs.