Nigeria may have zero foreign reserves

Interstella Communications Limited has written what it described as its last letter of demand to the Governor of the Central Bank of Nigeria, CBN (copied to the Hon. Attorney General of the Federation, and to the Chief of Staff to the President, FRN) asking the CBN to comply with the 2017 judgement of the supreme court of Nigeria to pay Interstella the sum of $285, 124, 422.30 (US dollars). Interstella said after two years, the CBN is yet to comply with the judgement even after writing 3 separate letters to the body.

The CBN is also facing another difficult challenge from a UK court ruling which recently granted a natural gas company the right to try to seize $ 9 billion in assets from the Nigerian government. Both companies are ready to go into full force to recover their money; this is in addition to billions of dollars which the Buhari’s government borrowed from China.

Below is the letter Interstella wrote to the CBN, click the link and read in details: