43 Prohibited Products Remain Under our Position – CBN

0 46

The Central Bank of Nigeria (CBN) has maintained its position about the 43 prohibited commodities that were presented by its suspended Governor, Godwin Emefiele, as eligible for foreign exchange.

This comes after the top bank recently changed the way that activities in the Nigerian foreign exchange (FX) market were conducted.

Additionally, it stated that purchases cannot be made using foreign currency through the Investors and Exporters (I&E) portal.

If there is a greater demand for these goods than what is available on the official market, the central bank’s capacity to maintain exchange rate stability and reduce the gap between the official and black market rates may be hampered.

The apex bank had in 2015, released a circular, detailing the 41 imported goods and services from accessing the official FX market.


Leave A Reply
%d bloggers like this: