CBN Refutes Claims of $1.26bn Oil Forex Allocation, Says Market Is Driven by Demand, Not Allocation

Thewillnews | 29-10-2025 08:25pm |

October 29, (THEWILL) — The Central Bank of Nigeria (CBN) has denied reports that it disbursed $1.259 billion to major oil operators for the importation of refined petroleum products, describing the claims as false and misleading. In a statement issued on Tuesday, the apex bank clarified that Nigeria’s foreign exchange market operates on a market-driven

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