Review forex ban on 40 items to save naira, economists tell CBN

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The Centre for the Promotion of Private Enterprise, has advised the Central Bank of Nigeria to review its ban on some of the over 40 items which the regulator has stopped importers from accessing foreign exchange to bring into the country.

Some of the products on this list are intermediate products for some manufacturing firms which have negatively impacted some manufacturers.

CPPE also said there was a need for the CBN to review its foreign exchange policy in 2022 to improve dollar liquidity in order to help grow the naira and industries.

According to the organization, the CBN should adopt a flexible exchange rate policy regime, and allow the pricing mechanisms to reflect the demand and supply fundamentals in the foreign exchange market.

 

– Punch

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