CBN Removes Forex Ban on 43 Items
Category:
Business News
The Central Bank of Nigeria (CBN) has lifted the foreign exchange restriction on importation of 43 items assuring of its commitment to boost liquidity in the foreign exchange market.
Disclosing this in a statement, Director Corporate Communications, Department, CBN, Dr. Isa Andulmumin, said, "Importers of all the 43 items previously restricted by the 2015 Circular referenced TED/FEM/FPC/GEN/01/010 and its addendums are now allowed to purchase foreign exchange in the Nigerian Foreign Exchange Market.”
He said: “The Central Bank of Nigeria (CBN) will continue to promote orderliness and professional conduct by all participants in the Nigerian Foreign Exchange Market to ensure market forces determine exchange rates on a Willing Buyer – Willing Seller principle.
The Central Bank of Nigeria (CBN) has lifted the foreign exchange restriction on importation of 43 items assuring of its commitment to boost liquidity in the foreign exchange market.
Disclosing this in a statement, Director Corporate Communications, Department, CBN, Dr. Isa Andulmumin, said, "Importers of all the 43 items previously restricted by the 2015 Circular referenced TED/FEM/FPC/GEN/01/010 and its addendums are now allowed to purchase foreign exchange in the Nigerian Foreign Exchange Market.”
He said: “The Central Bank of Nigeria (CBN) will continue to promote orderliness and professional conduct by all participants in the Nigerian Foreign Exchange Market to ensure market forces determine exchange rates on a Willing Buyer – Willing Seller principle.
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