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Nigeria’s central bank denied giving $1.26 billion to oil firms for fuel imports in Q1 2025, saying the figure was total market activity, not direct payments.
The Central Bank of Nigeria (CBN) denied reports it disbursed $1.259 billion to oil firms for petrol imports in Q1 2025, calling the claims inaccurate.
The figure, from the CBN’s foreign exchange report, reflects total market transactions under a market-driven system, not direct payments.
Since exchange rate unification in 2023, the CBN no longer allocates forex; instead, market participants independently source foreign exchange.
The bank emphasized its commitment to transparency and a stable, market-based system.
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El banco central de Nigeria negó haber dado $1.26 mil millones a las empresas petroleras para las importaciones de combustible en el primer trimestre de 2025, diciendo que la cifra era la actividad total del mercado, no los pagos directos.