David Hundeyin has responded to reports regarding the CBN’s claim of clearing the FX backlog, alleging that Cardoso is profiting from speculation on the Nigerian Naira.
He asserted that Cardoso disseminated false information yesterday to artificially boost the Naira temporarily, a tactic that proved effective.
David Hundeyin stated: “Here’s my theory, which even without evidence, I’m 99% sure is true:
“Cardoso is making money off NGN speculation. He put out that fake news yesterday to temporarily bump the naira upward (which worked).
“He went long at a time everyone is shorting the NGN, and he’s cashed out,” He said.
Furthermore, as previously reported by Parallel Facts, despite assertions by the Central Bank of Nigeria (CBN) regarding the resolution of outstanding foreign exchange (FX) obligations, foreign airlines maintain that the situation remains unchanged.
READ ALSO: Foreign Airlines Disclaim CBN Claim of Fixing FX Backlog
Kingsley Nwokeoma, President of the Association of Foreign Airlines and Representatives in Nigeria (AFARN), voiced doubt regarding the CBN’s claims, stressing that no tangible progress has been observed in clearing the trapped funds of foreign airlines operating in Nigeria.
“If they say they have cleared the trapped funds, they should show us figures. They should tell us how much has been cleared. The last I checked, the status quo still remains the same,” Nwokeoma said.
