Africa Business News

The Central Bank of Nigeria has lifted the forex ban on 43 items and also promised to intervene in the FX market from time to time. The apex bank had in 2015 restricted the items from accessing FX from the I&E window, saying they were not valid for foreign exchange and could be produced in the country. Items affected include rice, cement, palm kernel, meat and processed meat products, poultry, soap, and cosmetics among others. The bank’s Director of Corporate Communications Isa AbdulMumin says the ban has been lifted. He says as part of its responsibility to ensure price stability, the CBN will boost liquidity in the Nigerian Foreign Exchange Market by interventions from time to time.This show is part of the Spreaker Prime Network, if you are interested in advertising on this podcast, contact us at https://www.spreaker.com/show/4166630/advertisement