Hakama Sidi-Ali, CBN spokesperson, disclosed this in a statement on Wednesday, in Abuja.
She explaining that the apex regulator had commissioned an independent forensic review by a reputable firm.
According to her, payment of the forex backlog for qualified transactions had also commenced.
She, however, noted that the review revealed grave infractions, gross abuse, and significant non-compliance with market regulations, and appropriate sanctions would be enforced in collaboration with relevant agencies.
Thr CBN spokesperson stressed the CBN’s resolve to sanitise the financial services sector and foster trust among all market participants, as well as internal and external stakeholders, in the Nigerian economy.
She said the CBN would continue to settle the legitimate foreign exchange backlog as it has consistently been doing in the last three months.
Last week, the CBN disbursed approximately US $61.64 million to foreign airlines through various banks as part of efforts to decrease its remaining liability to the airlines.