Business
CBN: List Of 43 Non-Eligible Items For Forex Exchange (Full List)
According to the apex bank, this action will boost liquidity in the Nigerian Foreign Exchange Market…
The Central Bank of Nigeria (CBN) has finally lifted the foreign exchange restrictions it placed on importers of 43 items eight years ago.
VerseNews reported that in a statement signed by CBN’s Director of Corporate Communications, Dr. Isa AbdulMumin, the bank said this is a significant change to the foreign exchange market policy.
According to the apex bank, this action will boost liquidity in the Nigerian Foreign Exchange Market and intervene from time to time, stating that interventions will decrease as liquidity improves.
In a circular in June 2015, the CBN published a list of imported goods and services that will not be eligible for foreign exchange in the Nigerian foreign currency market. The list which was originally 41 was updated to include two more items.
Here is the list of the 43 non-eligible items CBN lifted restrictions on:
1. Rice
2. Cement
3. Margarine
4. Palm kernel
5. Palm oil products
6. Vegetable oils
7. Meat and processed meat products
8. Vegetables and processed vegetable products
9. Poultry and processed poultry products
10. Tinned fish in sauce (Geisha)/sardine
11. Cold rolled steel sheets
12. Galvanized steel sheets
13. Roofing sheets
14. Wheelbarrows
15. Head pans
16. Metal boxes and containers
17. Enamelware
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 cosmetics
42. Tomatoes/tomato pastes
43. Eurobond/foreign currency bond/ share purchases
Nigerians Divided as Senator Natasha Akpoti Emerges in First Female Presidency Debate
A wave of mixed reactions has trailed online conversations about Senator Natasha Akpoti-Uduaghan potentially becoming Nigeria’s first female president.
Edo Govt Finally Reveals Identities Of Hoodlums That Attacked Peter Obi
The Edo State Government has blamed internal disputes within the ADC for the recent attack on Peter Obi in Benin.
How Tinubu Forced IGP Egbetokun to Resign, Picks Disu for 2027 Election Boost, Others Retire
Fresh details have emerged on how President Tinubu compelled former IGP Kayode Egbetokun to step down.
IPOB Hails Georgia As Nnamdi Kanu Bags Prestigious Honorary Citizen Award In U.S
IPOB has expressed appreciation to officials in Georgia, United States, following the conferment of an honorary citizenship award on its...
BREAKING: Peter Obi Escapes Assassination as Thugs Shoot at Obidient Movement Members in Edo
The Obidient Movement has raised concerns after alleged armed thugs attacked Peter Obi and party leaders in Benin, Edo State,...
Why Egbetokun Resigns as IGP – Presidency Reveals Meeting Details
The Presidency has confirmed the resignation of Inspector-General of Police Kayode Egbetokun.
BREAKING: Presidency Breaks Silence on ₦2bn Ransom Payment to Boko Haram for Niger Schoolchildren Release
The Federal Government has dismissed reports alleging it paid a huge ransom and released militant commanders to secure the freedom...
BREAKING: CBN Cuts Interest Rate to 26.5% in Latest Policy Move
The Central Bank of Nigeria has reduced the Monetary Policy Rate by 50 basis points to 26.5%.
BREAKING: President Tinubu Sacks IGP Kayode Egbetokun, Names Successor
President Bola Tinubu has reportedly removed Inspector-General of Police (IGP) Kayode Egbetokun, with AIG Tunji Disu set to take over,...
[JUST IN]: US-Based Igbo Groups Hail Enugu Monarch For Confronting Tinubu, Demand Kanu’s Release (Full Details)
US-based Igbo advocacy groups have praised an Enugu monarch for openly confronting President Bola Tinubu.
You must be logged in to post a comment Login