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flag 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.

flag 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. flag The figure, from the CBN’s foreign exchange report, reflects total market transactions under a market-driven system, not direct payments. flag Since exchange rate unification in 2023, the CBN no longer allocates forex; instead, market participants independently source foreign exchange. flag The bank emphasized its commitment to transparency and a stable, market-based system.

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