According to the report published on Punch Newspaper on 12th Oct 2023,...CONTINUE READING
This is a substantial shift in the bank’s foreign exchange market policy, according to a statement from the CBN signed by Dr. Isa AbdulMumin, Director of Corporate Communications…CONTINUE READING>>
The central bank states that this measure will increase liquidity in the Nigerian foreign exchange market and allow it to occasionally interrupt emphasizing that interventions will start to decrease as liquidity increases.
A list of imported goods and services that would not be accepted for foreign exchange in the Nigerian foreign exchange market was released by the CBN in a circular in June 2015. Two more items were added to the list, which had previously had 41 items.
The items are listed below:
1. Vegetable oil
2. Palm oil
3. palm kernel
4. Margarine
5. Rice
6. Cement
7. Meat and processed meat products
8. egetables and processed vegetable products
9. Poultry and processed poultry products
10. Tinned fish in sauce (Geisha)/sardine
11. Cold rolled steel sheet
12. salvanized steel sheets
13. Roofing sheets
14. Wheelbarrows
15. Head pans
16. Metal boxes and containers
17. Enamelwa
18. steel drums
19. Steel pipes
20. Wire rods (deformed and not deformed)
21. Iron rods
22. Reinforcing bars
23. Wire mesh
24. Steel nails
25. Security and razor fencing and poles
26. Wood particle boards and panels
27. Wood fiberboards and panels
28. Plywood boards and panels
29. Wooden doors
30. Toothpicks
31. Glass and glassware
32. Kitchen utensils
33. Tableware
34. Tiles-vitrified and ceramic
35. Gas cylinders
36. Woven fabrics
37. Clothes
38. Plastic and rubber products
39. Polypropylene granules
40.Cellophane wrappers and bags
41.Soap and cosmetic
42. Tomatoes/tomato paste
43. Eurobond/foreign currency bond/ share purchases…CONTINUE READING>>
